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IDFC scales record high on fund raising plan

July 3, 2007

Infrastructure Development Finance Company (IDFC) is planning to shortly raise about $500 million through a qualified institutional placement.

Earlier on 25 April 2007, the board of directors of the company had approved a plan to raise capital through issue of equity or quasi-equity instruments up to $ 500 million subject to the approval of the shareholders.

The scrip hit a high of Rs 135.80 today, which is a lifetime high for the scrip. It hit a low of Rs 132.2 so far during the day. It had touched a 52 week low of Rs 43.35 on 24 July 2006.

Infrastructure Development Finance Company (IDFC) scrip had declined 16.07% over the last one month to 2 July 2007 compared to the Sensex’s return of 0.64%. The scrip outperformed the market over the past quarter, gaining 71.17% compared to the Sensex’s rise of 16.16%.

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