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IFCI receives Rs 491.84 crore for Binani Cement resolution

27 Nov 2018 Evaluate

IFCI has received an amount of Rs 491.84 crore, net of TDS of Rs 30.55 crore, on account of resolution of Binani Cement under the IBC mechanism. The amount is towards the Security Receipts held by IFCI in Binani Cements.

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.

Peers
Company Name CMP
Power Finance Corpn. 344.85
REC 313.05
NHIT 168.00
Satin Creditcare Net 229.30
IFCI 69.89
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