IFCI has received bids for sale of 1,20,66,871 equity shares comprising of 2.44% of the total equity shares in National Stock Exchange of India (NSE). The sale will be subject to obtaining consent/ No objection of NSE and any other approval. Earlier, the company had received Board of Directors’ approval to sell its remaining stake of NSE.
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.
