IIFCL seeks government approval to classify space sector as infrastructure to boost financing and growth.

IIFCL, a state-owned Indian infrastructure finance company, is asking the government to classify the space sector as infrastructure to ease financing for satellite manufacturing. This could boost funding opportunities in the space industry. IIFCL currently advises the Indian Space Research Organisation and plans to set up a subsidiary to issue asset-backed securities for better capital management. The company also reported a 44% rise in standalone net profit for FY24.

November 24, 2024
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