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IFCI shines on receiving bids for sale of its entire stake in NSE

IFCI is currently trading at Rs. 7.37, up by 0.39 points or 5.59% from its previous closing of Rs. 6.98 on the BSE.

The scrip opened at Rs. 7.49 and has touched a high and low of Rs. 7.65 and Rs. 7.21 respectively. So far 405023 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 15.35 on 01-Jan-2019 and a 52 week low of Rs. 6.00 on 15-Oct-2019.

Last one week high and low of the scrip stood at Rs. 7.65 and Rs. 6.85 respectively. The current market cap of the company is Rs. 1251.64 crore.

The promoters holding in the company stood at 56.42%, while Institutions and Non-Institutions held 16.76% and 26.82% respectively.

IFCI has received bids for sale of 1,20,66,871 equity shares comprising of 2.44% of the total equity shares in National Stock Exchange of India (NSE). The sale will be subject to obtaining consent/ No objection of NSE and any other approval. Earlier, the company had received Board of Directors’ approval to sell its remaining stake of NSE.

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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