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Govt to infuse ₹500 cr in IFCI for financial revival
Hindustan Times East UP
|December 23, 2024
The funding will further increase govt holding in the firm from existing 71.72%
NEW DELHI: The government has decided to infuse ₹500 crore capital in state-owned IFCI to improve its financial health ahead of the company's proposed restructuring and consolidation into a group.
With the infusion, the government of India's holding in the company is expected to further increase from existing 71.72% as on September 2024.
The capital infusion plan for IFCI was approved through the passage of the first Supplementary Demand for Grants for 2024-25 in Lok Sabha last week.
The Supplementary Demand for Grants for 2024-25 made an allocation for an additional amount of ₹499.99 crore for 'Subscription to the Share Capital of Industrial Finance Corporation of India (IFCI).
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