IDFC share sale raises $575 mn

Infrastructure Development and Finance Company has raised $575 million through share sale to institutional investors, sources said on Tuesday.

Infrastructure Development and Finance Company (IDFC) has raised $575 million through share sale to institutional investors, sources said on Tuesday.

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The qualified institutional placement, which opened on Monday and closed a day later, has been priced at Rs 168 a share, sources said.

"The response from both domestic as foreign investors has been strong," a source said, adding the issue would lead to equity dilution of 10.6 per cent.