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IFCI soars as Government plans to hike stake in the company

01 Sep 2014 Evaluate

IFCI is currently trading at Rs. 34.40, up by 0.75 points or 2.23% from its previous closing of Rs. 33.65 on the BSE.

The scrip opened at Rs. 33.85 and has touched a high and low of Rs. 34.40 and Rs. 33.70 respectively. So far 281609 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 44.90 on 10-Jun-2014 and a 52 week low of Rs. 18.40 on 30-Aug-2013.

Last one week high and low of the scrip stood at Rs. 36.55 and Rs. 33.35 respectively. The current market cap of the company is Rs. 5684.17 crore.

The promoters holding in the company stood at 55.53% while Institutions and Non-Institutions held 20.57% and 23.90% respectively.

Government is planning to hike its stake in IFCI to 51% by infusing Rs 60 crore in the country’s oldest financial institution. Currently, the government is having nearly 48% stake in the company. Further, the government is looking to acquire preference shares from existing stakeholders of IFCI to increase its stake.

In this regard, the Department of Financial Services has floated a draft Cabinet note to Corporate Affairs and Law Ministries, among others. Approval would be sought from the Cabinet Committee on Economic Affairs (CCEA).

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.

 

IFCI Share Price

61.22 0.54 (0.89%)
17-Apr-2026 16:59 View Price Chart
Peers
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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