IFCI News and Updates

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IFCI Ltd.

26 May 2023

IFCI Consolidated March 2023 Net Sales at Rs 413.65 crore, down 6.91% Y-o-Y

Moneycontrol

IFCI has lost -21.07% in the last 6 Months

IFCI Standalone March 2023 Net Sales at Rs 141.67 crore, down 40.01% Y-o-Y

Moneycontrol | 26 May 2023

IFCI Ltd.

17 May 2023, 11:30PM

'Govt to issue notices to debar more cos found violating FAME-II norms'

Business Standard

The government will issue notices to more companies that have been found violating localisation norms under the Rs 10,000-crore FAME-II scheme seeking to debar them and recover incentives claimed by them since FY 2019-20, an official said on Wednesday. Also, the Heavy Industries Ministry will resume disbursal of subsidies under the scheme shortly as reports of most of the firms under the ambit of the audits being conducted by India's premier vehicle testing and validation agencies ICAT and ARAI have been received, the official said. "We have received reports that some other companies have also violated the FAME-II guidelines. We will be issuing them notices similar to the notices issued to two firms found to be violating the localisation norms earlier," said the official, requesting anonymity. He shared that the subsidies have not gone out but reports of most of the companies have come. "IFCI is processing the subsidy claims and shortly may be in a couple of days we will be resum

IFCI Ltd. is trading below all available SMAs

IFCI Ltd.

09 Nov 2022

IFCI posts Rs 209 cr Q2 profit, interest income declines to Rs 110 cr

Business Standard

Term lender IFCI on Wednesday reported a consolidated net profit of Rs 209 crore for September quarter 2022-23. The company had incurred a net loss of Rs 445 crore in the same quarter a year ago. Total income increased to Rs 425 crore in July-September 2022-23 from Rs 373 crore in the same quarter of previous financial year, IFCI said in a regulatory filing. Interest income decline to Rs 110 crore during the quarter from Rs 142 crore a year ago. On standalone basis, IFCI earned a profit of Rs 110 crore during the quarter as compared to Rs 526 crore earlier. Total income of the company rose to Rs 126 crore from Rs 106 crore. The company received Rs 100 crore on September 17, 2022 from the Centre towards subscription to the share capital as share application money, it said.

IFCI has lost -20.14% in the last 3 Months

IFCI Ltd.

03 Nov 2022

India considers capital infusion, merger of loss-making lender IFCI

Business Standard

IFCI has reported annual losses for at least four straight years to March 31, 2022 and has lost more than 17% of market capitalization in the past year

IFCI has lost -20.14% in the last 3 Months

Government planning to infuse Rs 2,000 crore in IFCI

Moneycontrol | 02 Nov 2022

IFCI Ltd.

28 Oct 2022

IFCI raises Rs 100 crore via preferential allotment of shares to govt

Business Standard

Long-term infrastructure financier IFCI Ltd on Thursday raised Rs 100 crore through preferential allotment of shares to the government. The Committee of Directors at its meeting held on October 27 has allotted 9,29,36,802 number of equity shares at a price of 10.76 each including a premium of Rs 0.76 each share to the Government of India, IFCI said in a regulatory filing. Following the allotment of equity shares to the Government of India on preferential basis, the shareholding of the government has increased from 64.86 per cent to 66.35 per cent of the total paid-up share capital of the company, it said. Earlier in the day, shareholders of the company approved the proposal to issue the preferential issue of equity shares to the government as a promoter.

IFCI has lost -21.07% in the last 6 Months

IFCI Ltd.

27 Sep 2022

IFCI Board approves up to 100-crore preferential issue to Central government

Business Line

EGM convened on October 27 for shareholders' approval

IFCI Ltd. is trading below all available SMAs

IFCI Ltd.

02 May 2022

Mehul Choksi pledged 'lab diamonds' with inflated valuation to get Rs 25 crore loan from IFCI: CBI

Moneycontrol

The central agency has acted on a complaint from Industrial Finance Corporation of India (IFCI) Ltd alleging that Mehul Choksi had approached it in 2016 seeking Rs 25 crore working capital loan for which he had pledged shares and gold and diamond jewellery.