Market regulator SEBI today came out with guidelines for infrastructure debt fund (IDF). The IDF can be set up by any existing mutual fund or an infrastructure finance company which have been engaged in financing the sector for five years, reports Aakansha Sethi of CNBC-TV18. Now mutual funds can float a 'Infrastructure Debt Fund' as a close-ended scheme maturing after five years or an interval scheme with lock-in of five years, the Securities and Exchange Board of India (SEBI) Chairman UK Sinha said. The IDF would invest 90% of its assets in the debt securities of infrastructure companies. The minimum investment into IDF would be Rs 1 crore and the minimum size of the unit would be 10 lakh, SEBI said.
Source : Money Control
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