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IFCI gets nod to raise fund in 2013-14 via various instruments

27 Mar 2014 Evaluate

IFCI has received an approval from Government of India, Ministry of Finance, Department of Revenue and CBDT to issue tax free, secured, redeemable, non-convertible bonds upto to Rs 430 crore during Financial Year 2013-14.

IFCI was established with an intention to provide long-term finance needs of the industrial sector. It got listed in the year 1993 changed its status from statutory corporation to a company. 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. 345.00
REC 311.00
NHIT 168.00
Satin Creditcare Net 229.70
IFCI 69.64
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