India’s first infrastructure debt fund launched

ICICI Group, Life Insurance Corporation, Citicorp Finance India and Bank of Baroda joined hands to launch India’s first Infrastructure Debt Fund (IDF) to be structured as a non-banking finance company (NBFC). As for the equity contribution, ICICI Group will take 31 per cent stake, Bank of Baroda 30 per cent, Citicorp Finance India 29 per cent and LIC 10 per cent.