IFCI has invited bids from merchant bankers for disinvestment of its part stake, 12,09,991 equity shares, in National Stock Exchange (NSE) through a competitive bidding process. The last date for the submission of the bid is May 14.
Last month, the infrastructure term lender had offloaded 0.39% in the leading stock exchange for Rs 169 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.
