IFCI Factors is planning to come with an initial public offering (IPO) of 39,086,628 equity shares of face value of Rs 10 each. Enam Securities is the book running lead manager and Link Intime India is the registrar to the issue.
IFCI Factors intends to utilize the issue proceeds to augment capital base to ensure compliance with requisite capital adequacy norms and to meet future capital requirements arising out of growth in business.
IFCI Factors was incorporated on December 14, 1995 as ‘Foremost Factors’ and got its present name on December 16, 2008. It is a financial services company, providing factoring solutions across various industries. Its primary business is to provide domestic sales bill factoring, supported by other factoring products and allied financing services such as short term corporate loans business. The company’s product offerings include domestic sales and purchase bill factoring, advance against future receivables, export factoring and bill discounting under letters of credit, supported by allied financing services such as short term corporate loans.
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