IFCI has raised Rs 310 crore by issue of tax free, secured, redeemable, non-convertible bonds (NCDs). The book building opened on March 27, 2014 for an issue of Rs 215 crore with green shoe option up to Rs 215 crore. The book building closed on March 28, 2014. The issue was fully subscribed with aggregate bids for Rs 310 crore including green shoe option of Rs 95 crore.
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.
