The SPV will have a total capital cost of $953 million, the company informed BSE. GMR Energy promoted thermal power project in Orissa has achieved a financial closure with Infrastructure Development Finance Company (IDFC) Ltd picking up a 20% stake in project. Join discussion...

Infrastructure Development Finance Company (IDFC) will complete the process of raising funds for its India Infrastructure Fund (IIF) in a fortnight, said Vikram Pant, managing director, IDFC Project Equity, which manages the fund. IIF, which currently has a corpus of $925 million, is eyeing the $1 billion mark. "But even if we don't reach that figure, we will close the fund in two weeks," said Pant. He said IIF is neck-deep in investments and doesn't want to focus on fund-raising now. Pant had earlier told DNA Money, "There is so much more value now in investing than in raising funds." Join discussion...