IFCI Update

IFCI Ltd has decided to give 30 banks and financial institutions, including
LIC, an option to convert a portion of their debt exposure in the country’s oldest financial institution into equity.

IFCI on Monday reported a net profit of Rs 744.15 crore on a total income of Rs 1,081.17 crore for the six months period ended September 30. The company had recorded a net profit of Rs 100.22 crore on total income of Rs 585.05 crore in the same period last year.

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There are news that bidders may back out of this due to the equity dilution or stake sale delay but as per the MD of IFCI stake sale process will be completed in next two and half months.

Now based on current valuations, IFCI should get even 150 Rs and getting 26% stake at 120 Rs will be very attractive for bidders. Stay invested in IFCI and watch out for more updates.