Indian Infrastructure Finance Company Limited (IIFCL) Chairman and Managing Director S K Goel on Tuesday stated that the company would establish its regional office in Hyderabad soon.
Talking to media persons, Goel said that the company board had decided to establish regional offices in Kolkata, Mumbai and Hyderabad to streamline its operations.
Goel added that the company would mop up around Rs. 1,200 crores from tax-saving infrastructure bonds to raise resources.
He stated that the returns on the bonds were the highest with coupon rates at 8.15% and 8.30% depending upon the nature of holding tenure.
Goel said that those bonds would also offer tax savings under Sec 80CCF of IT Act 1961. The proceeds of the issue would be deployed towards the infrastructure sector.
The bonds will be issued from Feb 4th and closed on March 4th.
The IIFCL chairman said that the company, founded in 2006, had clocked a net profit of Rs. 260 crores in the last fiscal.