New Delhi, Mar 10 (PTI) India Infrastructure Finance Company Ltd (IIFCL) on Thursday said it has raised Rs 6,000 crore in debt to provide impetus to government's infrastructure vision.

With a view to promote long term infrastructure finance in India, IIFCL after a span of eight years has raised funds from the domestic market through privately placed Non-Convertible Debt Securities for an amount of Rs 5,000 crore with a greenshoe option of Rs 1,000 crore, the company said in a statement.

Also Read | Apple's Upcoming MacBook Air Likely To Come With New Design & More Colours: Report.

The issue was oversubscribed more than six times, it said.

This fundraise will provide impetus to Prime Minister's vision of achieving outstanding infrastructure growth, as these proceeds will be utilized to provide long term debt to infrastructure projects, both greenfield and brownfield, developed under various initiatives of the government viz., National Infrastructure Pipeline (NIP), National Monetisation Pipeline (NMP) and Gati Shakti.

Also Read | Realme 9 5G, Realme 9 SE 5G Launched in India; First Online Sale on March 14, 2022.

IIFCL will continue to play a leading role in fulfilling the aspirations of India of developing a world class infrastructure, it said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)