Infrastructure Development and Finance Co Ltd will hive off its public policy and public-private partnership advisory business into a non-profit company by the end of the fiscal, a senior official said.
IDFC sells shares worth Rs 2,654 cr
"The move is aimed at raising more third-party, non-commercial development funds," Cherian Thomas, chief operations officer, IDFC Foundation, told Mint newspaper.
The funds will be used for activities such as training government employees and advising the government in policy matters, he said.
IDFC: Building muscle power and reach
The foundation is one of IDFC's four business segments and includes the advisory business, a capacity building trust that trains government employees for a fee and has joint ventures with the government of Karnataka, New Delhi and Uttarakhand.
