IFCI is looking to mobilise Rs 1,500-2,000 crore from sale of non-core assets, including its stake in the National Stock Exchange (NSE), during the current fiscal to fund business growth. Currently, the company holds 2.4 percent stake in NSE and 4 percent in Clearing Corporation of India (CCIL). Besides, the company is looking at recovery of bad loans under the Insolvency and Bankruptcy Code.
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.
