IFCI has presented a dividend cheque of Rs 92.30 crore to the Union Finance Minister Arun Jaitley on September 17, 2014. This 10% dividend is for the Financial Year 2013-14. The company had also paid 10% dividend to the Government of India last Financial Year. The Government of India is holding a majority stake of 55.53% equity shareholding in IFCI.
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.
