IFCI is reportedly planning to open two new branches in addition to the 16 that are already up and running. These two new branches will be opened at Vijayawada in Andhra Pradesh and Raipur in Chhattisgarh. The company already has a presence in Andhra Pradesh-- at Hyderabad.
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.