NEW DELHI - India's government-owned infrastructure financier, India Infrastructure Finance Company Limited (IIFCL), is preparing to launch an initial public offering (IPO) in the next fiscal year, the company's Deputy Managing Director Pawan Kumar announced today during their foundation day celebration. IIFCL, a key player in funding the country's infrastructure projects, is currently in the process of obtaining the necessary government approvals for the IPO.
The announcement comes on the back of a strong financial performance by IIFCL in the previous fiscal year, where the company saw its net profit soar to ₹1,076 crore ($1 = ₹83.11), a figure that is double the profit reported in FY23. This significant growth in profitability has been attributed to increased lending activities and a substantial reduction in non-performing assets (NPAs).
Looking ahead, IIFCL is optimistic about the current fiscal year, anticipating record loan sanctions that are expected to exceed ₹40,000 crore.
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