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IFCI strengthens on receiving nod to sell balance 3.05% stake held in NSE

04 May 2016 Evaluate

IFCI is currently trading at Rs. 25.30, up by 0.10 points or 0.40% from its previous closing of Rs. 25.20 on the BSE.

The scrip opened at Rs. 25.55 and has touched a high and low of Rs. 25.85 and Rs. 25.25 respectively. So far 4,30,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 34.35 on 05-May-2015 and a 52 week low of Rs. 17.55 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 26.10 and Rs. 24.65 respectively. The current market cap of the company is Rs. 4,204.95 crore.

The promoters holding in the company stood at 55.53% while Institutions and Non-Institutions held 22.24% and 22.22% respectively.

IFCI has received an approval for sale of remaining 3.05% stake constituting 13,72,750 equity shares of the equity stake held by the company in National Stock Exchange of India (NSE). The board also approved sale of assets of Blue Coast Hotels for recovery of its dues.

Further, the company has introduced a new product of short term loan for tenure up to 1 year for which the IFCI Benchmark Rate up to one year (IBR-ST) shall be applicable. The current IBR-ST is fixed at 9.40% p.a. with monthly rests. The rate comes into force with effect from May 01, 2016. The IBR-ST is exclusive of risk premium to be charged to the borrowers based on credit rating and tenor premium.

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
View more..

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