Infrastructure Development Finance Company
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Industry | Banking, Financial services |
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Founded | 1997Chennai) | (
Headquarters | , |
Area served | India |
Key people | Government of India |
Services | Infrastructure Advisory and Finance Investment banking Asset Management |
Owner | Government of India |
Subsidiaries | IDFC Project Equity IDFC First Bank IDFC Securities IDFC Pension Fund Management IDFC Foundation |
Website | www |
Infrastructure Development Finance Company Limited, more commonly known as IDFC, is a finance company based in India under the Department of Financial Services, Government of India.[1] It provides finance and advisory services for infrastructure projects, as well as asset management and investment banking.[2]
Company history
IDFC was incorporated on 30 January 1997 by Government of India with its registered office in Chennai and started operations on 9 June 1997.[3]
In August 2005, the company's equity shares were listed at the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) after an initial public offering (IPO).[4]
In May 2008, the company entered into asset management by acquiring the AMC business of Standard Chartered Bank in India, namely Standard Chartered Asset Management Company Pvt Ltd and Standard Chartered Trustee Company Pvt Ltd; the acquired companies were re-branded as IDFC Asset Management Company Pvt Ltd and IDFC AMC Trustee Company Pvt Ltd respectively.[5]
In 2008–09, the company acquired 100% of the share capital of IDFC Capital (Singapore) Pvt Ltd. In the same year, the company established IDFC Foundation to focus on capacity building, policy advisory and sustainability initiatives.[6]
IDFC Bank started operating banking services on 1 October 2015.[7]
IDFC Ltd. to complete merger with IDFC First Bank by March-end, leading to full privatization of IDFC Bank.[8]
References
- ^ "STATUTORY CORPORATIONS, COMPANIES AND OTHER BODIES IN WHICH THE GOVERNMENT OF INDIA HAVE FINANCIAL OR CONTROLLING INTEREST LOK SABHA SECRETARIAT" (PDF). Parliament of India, Lok Sabha. 1 September 2021.
- ^ "Buy IDFC target Rs 61: Manas Jaiswal". The Economic Times. 1 September 2017. Retrieved 27 January 2018.
- ^ "IDFC Ltd". Business Standard India – via Business Standard.
- ^ "IDFC Ltd. Stock Price, Share Price, Live BSE/NSE, IDFC Ltd. Bids Offers. Buy/Sell IDFC Ltd. news & tips, & F&O Quotes, NSE/BSE Forecast News and Live Quotes". www.moneycontrol.com.
- ^ Reporter, B. S. (8 March 2008). "IDFC buys StanChart AMC for $205 million". Business Standard India – via Business Standard.
- ^ "About Us". www.idfcfoundation.com.
- ^ Vishnoi, Abhishek (10 April 2015). "IDFC bank unit to begin operations from 1 October". Live Mint. HT Media Ltd. Retrieved 2 October 2015.
- ^ "IDFC to complete merger with IDFC First Bank by March-end". 21 March 2023.