Continuing its endeavour to reduce NPA levels and to monetise unquoted equity investments, in the prevailing scenario; IFCI has made an exit from the following two large exposures in thermal power sector in the last fortnight:
- Monetisation of an investment in 1600 MW coal based thermal power project (the largest project equity investment) - generating upside of more than Rs. 300 crore on the investment of Rs. 432.72 crore. In this fiscal year, IFCI realized Rs. 745.29 crore; and
- Resolution of largest NPA having an exposure to 450 MW gas based thermal power project - adopting open bidding under Swiss Challenge method. The auction was conducted with Reserve Price of Rs. 427.50 crore and IFCI realized Rs. 428.61 crore.
Shares of IFCI LTD. was last trading in BSE at Rs.13.5 as compared to the previous close of Rs. 13.79. The total number of shares traded during the day was 458702 in over 6189 trades.
The stock hit an intraday high of Rs. 14.06 and intraday low of 13.4. The net turnover during the day was Rs. 6280232.