|In 1994, the Department of Economic Affairs, MoF in recognition of the need to develop the country's infrastructure, established an Expert Group on Commercialisation of Infrastructure Projects under the Chairmanship of Dr. Rakesh Mohan. The group reviewed the existing
state of infrastructure in the country, including the state of corporate debt market to provide long-term funds to infrastructure projects, and recommended the need for a specialized financial intermediary for funding infrastructure projects.
Thereafter, the announcement for the setting up of IDFC was made in the Union Finance Minister's budget speech in July 1996.
Our Company was incorporated as a public limited company on January 30, 1997 with its registered office at Chennai and commenced business activities on June 9, 1997. IDFC was conceptualised to lead private capital to commercially viable infrastructure projects. Towards this objective, IDFC would nurture and develop bankable projects and create innovative instruments that unbundle and mitigate the risks for investors in the infrastructure sector. IDFC's role is to complement existing institutions undertaking infrastructure financing with focus on strengthening market mechanisms where these were evolving or had failed to develop. IDFC also works closely with the GOI and the state governments on conceptualizing and formulating policies that would be conducive for private sector participation in the infrastructure sector.
In 2002, in order to attract private sector investment in infrastructure projects to supplement public investment, the Finance Minister of India in his Budget speech for 2002-03, proposed the
setting up of Rs. 10,000 million Infrastructure Equity Fund, to be managed by IDFC, to help in providing equity investment in infrastructure projects. To give effect to the same, on November 7, 2002, we had incorporated IDFC Asset Management Company Limited as our subsidiary.
1997 * Incorporation of IDFC.
* Commencement of business.
1998 * Registered with the RBI as a NBFC.
1999 * Notified as Public Financial Institution under
section 4A of the Companies Act.
2000 * Registered with the SEBI as a merchant banker.
* Registered with the SEBI as an underwriter.
2001 * Registered with the SEBI as a debenture trustee.
* Infrastructure Development Corporation (Karnataka) Limited
set up pursuant to a shareholders agreement between IDECK
and the Governor of the State of Karnataka, HDFC and our
2002 * IDFC Asset Management Company Limited incorporated
as a subsidiary.
* Uttaranchal Infrastructure Development Company Limited set up
pursuant up a joint venture agreement between the Government
of Uttaranchal and our Company.
2003 * India Development Fund formed, in which IDFC is a
-IDFC signs pact with IFC for $50 m loan
-IDFC enters into MoU with SBI Caps for syndication of debt financing for Infrastructure projects
-IDFC enters into MOU with BoI & UBI
-IDFC acquires 33-pc stake in SSKI
-DFC to acquire 6.6% stake in Andhra Cements
-IDFC partners FTSE in creation of New India Infrastructure Index Series
-Infrastructure Development Finance Company Ltd (IDFC) has informed that the Government of India, Ministry of Finance, Department of Financial Services, nominated Mr. Arun Ramanathan, Secretary (Financial Services), as its nominee Director on the Board of the Company in place
of Mr. Vinod Rai.
-Infrastructure Development Finance Corporation (IDFC) has acquired Standard Chartered's asset management business in India.
- ICRA reaffirms "LAAA" rating to IDFC .
- IDFC and Natixis Global Asset Management Announce Strategic Partnership for Asset Management Business.
- IDFC bond issue receives 235,705 investor applications Issue collects Rs 436 crore in first tranche.
- IDFC's Capital raising of Rs 3,500 Crore.
- IDFC to issue tax-saving long-term infrastructure bonds.
--Registered Office of the Company has been shifted from ITC Centre, 3rd Floor, 760, Anna Salai, Chennai - 600 002" to "KRM Tower, 8th Floor, No.1, Harrington Road, Chetpet, Chennai - 600 031
- IDFC to issue second tranche of tax-saving long-term infrastructure bonds.
- IDFC bond issue receives approximately 3.88 lakh investor applications.
- IDFC Data Center FIRST IN INDIA TO BE Certified Energy Efficient ÂgreenÂ Data Centre by TÃV Rheinland.
- IDFC's Central Data Center awarded the coveted Uptime Institute Tier III design certification, First in the Financial Services Sector.
- Dr. Mihir Shah releases 10th India Infrastructure Report.
- Ministry inks Agreement for publication of India Rural Development Report.
- One New Indian Company to Join FTSE IDFC India Infrastructure 30 Index - following 2012 Semi-Annual Review.
- IDFC offers Tranche 2 of tax-saving long term infrastructure bonds.
-Company has changed its name from Infrastructure Development Finance Company Ltd. to IDFC Ltd.
-IDFC declares 26% dividend on equity shares.
-IDFC recommended payment of dividend for the financial year ended March 31, 2014 at the rate of 26%, i.e. Rs. 2.60 per share, subject to the approval of shareholders.
- IDFC Bank to expand reach with acquisition of Grama Vidiyal Micro Finance