IFCI is planning to sell 26% stake in Rs 900 crore operating toll road project in Madhya Pradesh. In this regard, the company will engage the services of an independent consultant to carry out estimation of tollable traffic. The consultant would also conduct valuation of the equity shares of Jaora Nayagaon Toll Road Company (JTCL).
IFCI holds 26% of the equity shares in JTCL. Other key stakeholders include Srei Venture Capital Trust (33.98% stake) and Ashoka Concessions (23%). Moreover, the company is expected to complete the stake sale process by September.
Recently, the company had announced that is planning to reduce its stake in the National Stock Exchange (NSE). It also intends to divest entire holding in the broking and financial product distribution arm, IFCI Financial Services (IFIN).
| Company Name | CMP |
|---|---|
| Power Finance Corp | 464.85 |
| REC | 373.35 |
| Indian Railway Fin. | 104.85 |
| NHIT | 151.00 |
| Satin Creditcare | 174.75 |
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