IIFCL's SUBSIDIRY AT LONDON, IIFCL(UK) LTD. |
OPENING OF IIFCL(UK) LTD. |
On-shore Foundation: Off-shore Initiative
Hon’ble Finance Minister made an announcement in the Union Budget 2007-08 about the setting up an offshore subsidiary of IIFCL. After the due approval of the Government of India, IIFC(UK) Ltd has been incorporated at London. The wholly owned subsidiary of the company has been set up in April 2008 with the objective of supplementing the role of IIFCL and augmenting the resources to the infrastructure sector. The subsidiary would channel part of the foreign exchange reserves of the country for creation of infrastructure assets by way of lending to Indian companies implementing infrastructure projects solely for meeting their capital expenditure outside India.
IIFCL(UK) LTd. has been established with the objective of borrowing a part of foreign exchange reserves( $ 5 billion) from the Reserve Bank of India and lend to Indian Infrastructure companies for meeting their capital expenditure for import solely outside India. As per the terms of funding by RBI, the transactions/disbursements by IIFCL(UK) Ltd. should not lead to any domestic absorption of liquidity.
CONTACT DETAILS
India Infrastructure Finance Company (UK) Ltd
87, Gresham Street
London EC2V7NQ
United Kingdom
Tel : +44(0)2076006564
Fax : +44(0)2077961015
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