IFCI has received an approval to proceed with the conversion of Optionally Convertible Debentures (OCD) held by the central government for Rs 400 crore and financial assistance of Rs 523 crore. The board at its meeting held on October 04, 2012 has approved for the same.
IFCI is engaged in providing corporate loans and project-specific loans to corporate. In addition, IFCI also invests in companies through equity, preference shares and debt instruments.