IFCI soars on getting nod to sell its 2.44% stake in NSE

Mumbai : IFCI is currently trading at Rs. 8.20, up by 0.23 points or 2.89% from its previous closing of Rs. 7.97 on the BSE. The scrip opened at Rs. 8.25 and has touched a high and low of Rs. 8.27 and Rs. 8.05 respectively. So far 63786 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 18.20 on 31-Jul-2018 and a 52 week low of Rs. 7.08 on 20-Jun-2019.

Last one week high and low of the scrip stood at Rs. 8.58 and Rs. 7.08 respectively. The current market cap of the company is Rs. 1351.71 crore. The promoters holding in the company stood at 56.42%, while Institutions and Non-Institutions held 19.01% and 24.56% respectively. IFCI has received approval to sell its remaining stake of 1,20,66,871 equity shares comprising of 2.44% of the total equity shares of NSE. The Board of Directors of the Company at its meeting held on June 24, 2019 has approved 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.

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