IIFCL, a government of India enterprise, is looking to launch an IPO.
| Photo Credit: Twitter: @IIFCLProjects
India Infrastructure Finance Company Limited (IIFCL), a government of India enterprise, providing innovative financial solutions to all sub-sectors of the infrastructure industry in India, is looking to launch an IPO. “We are studying it and it is at a premature stage. When the exact time comes we will talk about it,” P.R. Jaishankar, Managing Director, IIFCL said. He added, “We now have a growth path in front of us and we are looking at growing the company much more faster with more stability.” He also pointed out that IIFCL has been funding Data Centres and one of them was in Chennai.
Mr. Jaishankar and Pawan K. Kumar, Deputy Managing Director, IIFCL were in Chennai for a stakeholders meeting. The objective of the meeting was to have an interactive session to discuss the challenges faced by infrastructure developers, bankers, and government authorities in broad sectors of roads & highways, railways, airports, shipping, and energy.
While making a presentation Mr. Kumar pointed out that the NPA levels have reduced. As of March 31, 2023, IIFCL has been able to improve its asset quality and a significant decrease in Net NPA to 1.41% (down from 3.65% the previous year) and Gross NPA to 4.76% (down from 9.23% the previous year).
In Tamil Nadu, IIFCL has provided finance to about 50 infrastructure projects with total project outlay of ₹45,601 crore Ind Bharat Power (Madras) Ltd., Essar Bulk Terminal Ltd., Essel Walajahpet Poonamallee Toll Roads Pvt. Ltd., Patel Sethiyahopu-Cholopuram Highway Pvt Ltd, Patel Cholopuram-Thanjavur Highway Private Limited, SU Toll Road Pvt. Ltd. to name a few marquee projects in the state.
IIFCL recently announced its all-time high financial performance with cumulative sanctions and disbursements of ₹2,13,378 crore and ₹1,05,647 crore respectively as of March 31, 2023. The company’s standalone Profit after Tax (PAT) grew by 109.16 % over the previous year to ₹1,076 crore in the financial year 2022-23 (up from ₹514 Crore in FY 2021-22), furthering the company’s turnaround performance that began three years back. The company’s net worth grew to ₹12,878 Crore in FY 2022-23, up from ₹11,737 Crore in FY 2021-22.
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