IFCI is planning to sell its 2.5% stake in stock exchange NSE in the next 15 days which may fetch the financial institution about Rs 500 crore. At present, infrastructure lender IFCI holds 5.44% stake in the premier bourse.
The country’s oldest financial institution, initially held 12.44% stake in NSE, but sold 7% to Goldman Sachs Group Inc, NYSE Group Inc, General Atlantic LLC and Softbank Asian Infrastructure Fund in 2007.
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.