IL&FS Mutual Fund Redeems Rs 600 Crore in Timely and Responsible Manner, Paying Due to Debt Infra Investors

IL&FS Mutual Fund redeemed its infrastructure debt fund, Series 1C, on time, returning Rs 606 crore to investors with an 8% annual return. This brings the total funds returned over the last five years to Rs 1,580 crore. The scheme was managed by IL&FS Infra Asset Management Ltd. and targeted investors such as banks, pension funds, and sovereign wealth funds.

IL&FS Mutual Fund on Wednesday said it has paid a little over Rs 600 crore to investors in its infrastructure debt fund.

The debt scheme -- IL&FS Infrastructure Debt Fund Series 1C-- was redeemed on due date on April 30, making it a timely redemption, according to a statement issued by IL&FS Group.

The scheme redeemed Rs 606 crore against the original invested capital of Rs 275 crore delivering a return of 8 per cent per annum to the investors since inception.

IL&FS Mutual Fund (IDF), which is amongst the largest infra debt funds in the mutual fund format, had successfully redeemed schemes on time in January 2023.

Total funds returned to the investors of the mutual fund over the past five years are Rs 1,580 crore.

IL&FS Infrastructure Debt Fund is managed by IL&FS Infra Asset Management Ltd. The target investors for the fund are banks, pension funds, insurance companies, foreign investors, sovereign wealth funds and bilateral or multilateral associations.

In October 2018, Government of India, through Ministry of Corporate Affairs, took management control of IL&FS Group and appointed a new board in a move to control defaults and restore confidence and financial stability in capital markets.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)