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IFCI jumps on plan to sell 13.67% stake in ACRE for Rs 22.72 crore

19 Sep 2016 Evaluate

IFCI is currently trading at Rs. 28.55, up by 0.50 points or 1.78% from its previous closing of Rs. 28.05 on the BSE.

The scrip opened at Rs. 28.60 and has touched a high and low of Rs. 28.85 and Rs. 28.45 respectively. So far 562805 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 30.45 on 25-Jul-2016 and a 52 week low of Rs. 19.50 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 28.55 and Rs. 27.50 respectively. The current market cap of the company is Rs. 4753.43 crore.

The promoters holding in the company stood at 55.53%, while Institutions and Non-Institutions held 22.63% and 21.84% respectively.

IFCI has inked a Share Purchase Agreement (SPA) with Axis Bank for disinvesting its entire stake in Assets Care and Reconstruction Enterprise (ACRE) (73,28,334 number of equity shares constituting 13.67% of the total outstanding shares) of face value of Rs 10 per share to Axis Bank, resulting in total cash consideration of Rs 22.72 crore.

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

62.88 1.66 (2.71%)
20-Apr-2026 11:22 View Price Chart
Peers
Company Name CMP
Power Finance Corp 472.55
REC 382.25
Indian Railway Fin. 103.60
NHIT 151.00
Satin Creditcare 174.55
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