NIIF to Acquire a Majority Stake in Non-bank Lender IDFC
India’s National Investment and Infrastructure Fund (NIIF) has agreed to acquire a majority stake in non-bank lender IDFC Ltd's infrastructure fund business in its first control transaction.
The acquisition of the stake in IDFC Infrastructure Finance Ltd (IDFC-IFL), a non-banking company which manages a debt fund, will enable NIIF to provide private debt funding to infrastructure projects, according to a press statement on Wednesday.
“This investment demonstrates the ability of NIIF to make commercially attractive counter-cyclical investments, since it comes at a time when the non-banking finance sector is facing some temporary headwinds," said Sujoy Bose, managing director and CEO at NIIF.
This acquisition is the first investment from NIIF’s Strategic Fund and the first control trans...
