IDFC Limited is a non-banking financial company which operates in India by the subsidiaries of the company. The company was established on 30th January 1997, and it was then a public limited company. It was formerly known as Infrastructure Development Finance Company Limited, and its name was changed to IDFC limited in the year 2012. The company provides investment banking services; loans; savings accounts and time deposits; research services and institutional broking for professionals, small and medium businesses and individuals as well.
The company also manages funds; offers services of complementary asset management in the sector of private equity, infrastructure, and real estate. IDFC limited also refinances the ongoing infrastructure projects. The company is registered as an NBFC with RBI. Its primary subordinate is IDFC bank. IDFC comprises all its deals under IDFC Financial Holding Company Limited. The company is headquartered in Mumbai, India.
About Company Information:
The company IDFC Limited instigated its business on 9th June 1997. The company was registered as a Non-Banking Financial Company with Reserve Bank of India in the year 1998. It was reported as a Public Financial Institution in the year 1999. It was registered as a merchant banker and also as a backer with the Security Exchange Board of India (SEBI) in 2000. Consequently, it registered with SEBI as a debenture trustee in the year 2001.
IDFC Asset Management Company Ltd was integrated as a subordinate company of IDFC Limited in the year 2002. The company was an investor in India Development Fund which was formed in the year 2003. The equity shares of the business were listed on BSE and NSE pursuant in August of 2005. The company elicited $450 million for the private equity fund focused on its second infrastructure in the year 2006.
The company, IDFC Limited, increased its pledge to 8.2% in the National Stock Exchange of India Ltd by attaining an extra 6% stake during 2006-2007. It obtained the AMC business of Standard Chartered Bank in India, named Standard Chartered Asset Management Company Pvt Ltd and Standard Chartered Trustee Company Pvt Ltd; and ventured in asset management by rebranding those as IDFC Asset Management Company Pvt Ltd and IDFC AMC Trustee Company Pvt Ltd in May 2008.
In January 2009, an MoU was signed by the company with Gujarat State Energy Company Ltd and Bharat Heavy Electricals Ltd (BHEL) to found a Thermal Power plant of 1600 MW based on the supercritical technology at Sarkhadi. The company also signed an MoU with the Government of Gujarat to incorporate a 10 MW Solar Power Project in that year.
Jetpur Somnath Tollways Ltd was integrated as a subordinate of IDFC Projects Limited during the year 2010-2011. IDFC, along with Khazanah, went in a joint venture to found a company devoted to infrastructure development which was mainly focused on the road sectors in India on 3rd June 2011. On 20th July 2012, the name was changed from Infrastructure Development Finance Company Limited to IDFC Limited.
The company was granted approval, which was in-principle, on 9the April 2014 by Reserve Bank of India (RBI) to incorporate a new bank; under Section 22, Banking Regulation Act, 1949; in the private sector. Accordingly, the new IDFC Bank was founded on 21st October 2014 at Chennai, Tamil Nadu to run the banking business under the Companies Act, 2013. On 20th August 2015, the company announced that it has gone into a non-binding plan with Telenor Financial Services AS and Dilip S Shanghvi to set up a new Payment Bank where IDFC and its subsidiaries would have possessed 19.99% of its stake.
IDFC AMC, a renowned Mutual Fund house of India which is registered with SEBI, is sponsored by the company, with an average AUM (Assets Under Management) of Rs 57998 crore up to 31st December 2016. The company announced that IDFC Alternatives Limited, a wholly owned subordinate of IDFC, has made an agreement with Global Infrastructure Partners India on 28th April 2018.
How IDFC Ltd, is categorised as a Finance Sector, and Finance - Term Lending Institution Industry :
The Finance sector is a section that leads the world in terms of equity market capitalization and earnings. The companies that are in the economic enterprise focus mainly on managing money, as their revenue is generated mostly by the sectors from mortgage and loans that gain value as interest rates rise. Also, this industry's economy is made up of institutions and firms that provide financial services to wholesale and retail customers.
IDFC Ltd is categorised as a Finance Sector, and Finance and Term Lending Institution Industry. Term lending institutions have been formed to loan money in order to meet the financial requirement of industries when there is an inadequacy of finance from the Financial sources such as Indigenous banker, commercial banks, share and debentures and public deposits. These institutions are providing a good amount of loan to Indian industries, and they have emerged as the most valuable source of industrial finance in recent years.
IDFC Ltd, Competitors and Sector Peers:
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