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IL&FS Mutual Fund has completed the timely redemption of INR 262 crore under its Infrastructure Debt Fund Series 3B, delivering an 8% annual return since inception. The fund initially raised INR 153 crore, generating strong returns for investors. With this, total redemptions across its infrastructure debt schemes have reached INR 1,900 crore over six years, including earlier payouts from Series 1A, 1B, 1C, and 3A. Managed by IL&FS Infra Asset Management Ltd., the fund primarily targets institutional investors. The successful redemptions highlight the group's financial recovery and stability following the government's 2018 intervention, which aimed to restore investor trust after IL&FS defaulted on several obligations.
IL&FS Mutual Fund has successfully completed the redemption of INR 262 crore in its infrastructure debt fund, IL&FS Infrastructure Debt Fund Series 3B. The redemption was conducted on time, realising a return of approximately 8% per annum for the investors since the scheme's inception. The initial investment capital in this scheme was INR 153 crore, generating a substantial return over the investment period. Advertisement
With this payout, the cumulative redemption under the infrastructure debt fund portfolio has reached INR 1,900 crore over the past six years. IL&FS Mutual Fund has previously executed four successful redemptions: INR 405 crore in Scheme 1A in April 2019, INR 427 crore in Scheme 1B in April 2021, INR 185 crore in Scheme 3A in January 2023, and INR 611 crore in Scheme 1C in April 2024. The latest redemption in Scheme 3B adds to this series of timely disbursements.
The infrastructure debt fund is managed by IL&FS Infra Asset Management Ltd., targeting institutional investors such as banks, pension funds, insurance companies, foreign investors, sovereign wealth funds, and multilateral organisations. The fund's consistent redemption record underscores its commitment to maintaining investor confidence amidst the challenging financial landscape.
In a significant move in October 2018, the Government of India, through the Ministry of Corporate Affairs, assumed control of IL&FS Group and installed a new board to manage the company's affairs. The intervention aimed to stabilise the financial health of the group and restore investor confidence following widespread defaults.
With IL&FS Infra Asset Management Ltd. managing the portfolio, the fund has strategically targeted institutional investors, further solidifying its position in the infrastructure debt segment. The government-led intervention in 2018 has been instrumental in stabilising the group's financial position and enabling it to fulfil its obligations to investors effectively.
Source - PTI
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