IFCI has received an approval for disinvestment of its entire stake in Assets Care and Reconstruction Enterprise (ACRE). The board of directors at its meeting held on January 04, 2016 has approved for the following.
The board has also approved the partial disinvestment of equity shareholding of company in Stock Holding Corporation of India (SHCIL).
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.