IFCI has raised Rs 200 crore through Non-Convertible Bonds and allotted 9.40% p.a. 2000 number of Non-Convertible Bonds of face value of Rs 10 lakh each on Private Placement basis. The date of maturity of the above Non-Convertible Bonds will be April 21, 2023. The Committee of Directors at its Meeting held on June 29, 2020 has approved and allotted the same.
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.
