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IFCI rises on eyeing to raise Rs 790 crore to fund business growth

26 Dec 2014 Evaluate

IFCI is currently trading at Rs. 35.95, up by 0.05 points or 0.14% from its previous closing of Rs. 35.90 on the BSE.

The scrip opened at Rs. 35.80 and has touched a high and low of Rs. 36.20 and Rs. 35.50 respectively. So far 109189 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. 21.80 on 04-Feb-2014.

Last one week high and low of the scrip stood at Rs. 36.60 and Rs. 34.95 respectively. The current market cap of the company is Rs. 5900.23 crore.

The promoters holding in the company stood at 55.53% while Institutions and Non-Institutions held 21.09% and 23.38% respectively.

IFCI is eyeing to raise Rs 790 crore through secured, redeemable Non-Convertible Debentures (NCDs) in order to fund its business growth. The total amount for which the securities will be issued - Rs 250 crore (base issue size) with an option to retain over-subscription up to the residual shelf limit.

The proposed issue would open for subscription on January 1 and close on February 4, 2015. The Committee of Directors at its meeting held on December 23, 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.

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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