Setting-Up

In the Union Budget for 2007–08, the Hon’ble Finance Minister of India highlighted the critical importance of infrastructure development and the need for innovative financing mechanisms to support it.

As part of this vision, the Hon’ble Finance Minister suggested the establishment of a wholly-owned overseas subsidiary of India Infrastructure Finance Company Limited (IIFCL). The objective was to enable the subsidiary to raise funds from the Reserve Bank of India (RBI) and lend to Indian companies undertaking infrastructure projects in India, or to co-finance their External Commercial Borrowings (ECBs), specifically for capital expenditure incurred outside India.

Following this announcement, the Government of India approved the creation of IIFC (UK) Limited as an offshore, wholly-owned subsidiary of IIFCL (which is itself fully owned by the Government of India) to supplement and augment financial resources for infrastructure development in India.

Accordingly, IIFC (UK) Limited was formally incorporated on February 7, 2008, under the UK Companies Act 1985, and is registered with the Registrar of Companies for England and Wales [Company No. 6496661]. The company is also registered with the UK Financial Services Authority as an Annex-I Financial Institution.