IFCI has received an approval for public issue of Taxable, Non-Convertible Bonds for an aggregate amount not exceeding Rs 2,000 crore under the Shelf Prospectus. The board of directors at its meeting held on August 12, 2014 has approved for the same.
IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.
