MUMBAI: India Infrastructure Finance Company (IIFCL) is planning to borrow $1 billion from overseas investors, which could be its biggest foreign-currency loan, while also exploring a separate $400 million funding from the Asian Development Bank, an executive said.
The Indian company is the latest to tap into the foreign lending market after the Reserve Bank of India introduced a series of measures to boost dollar inflows and support the rupee. The measures include allowing state-run firms and banks to raise foreign currency funds to hedge their forex exposure at a subsidised rate.
