IDFC plans to raise debt to fund business expansion

Infrastructure Development Finance Company (IDFC) may look at options to raise debt capital to fuel its business growth but has no immediate plans to raise equity capital, its chief said on Thursday.

The company has a Tier-I capital adequacy ratio of 20 per cent, the IDFC's Managing Director & CEO, Rajiv Lall, told reporters on the sidelines of a FICCI-IBA Seminar here.

The IDFC did not face any issues in raising capital, Mr. Lall said.

In July this year, rating agency Crisil had downgraded the long-term debt rating of IDFC citing delay in mobilising funds.

"We are not facing any problem with capital raising," Mr. Lall said, adding that IDFC is working with rating agencies, Fitch and ICRA, for long-term debt rating.

With a revival in the economy, IDFC expects a pick-up in its business this year as well as increased disbursals in the months ahead, Mr. Lall said.