IFCI approves conversion of Rs.923 crores into shares

The Board of Directors of IFCI Ltd at its meeting held on October 04, 2012 has decided to proceed with the conversion of Optionally Convertible Debentures held by the Central Government for Rs. 400 crore and financial assistance of Rs. 523 crore.

The IFCI Ltd stock was trading at Rs.29.65, down by Rs.1.20 or 3.89%. The stock hit an intraday high of Rs.31.90 and low of Rs.28.95.

The total traded quantity was 71.31 lakhs compared to 2 week average of 40.78 lakhs.

Source : Equity Bulls

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