IFCI is planning to raise Rs 3,000 crore through debt, including bonds during the current fiscal year (FY19) to aid expansion of its loan book.
The company is looking at fresh lending worth Rs 6,000 crore, including take-out finance where IFCI will pick up stake from other lenders during 2018-19. Besides, it is also expecting to recover about Rs 2,000 crore from the resolution of non-performing assets (NPAs) during FY19.
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.
