IFCI receives bids from 10 Investors, Director Resigns

IFCI Ltd has announced that pursuant to inviting Expression of Interest from strategic investors, following applications have been received:

1. General Electric Capital Corporation

2. Kotak Mahindra Bank Ltd

3. Consortium of Sterlite Industries (India) Ltd and Morgan Stanley & Co.

4. Infrastructure Development Finance Company Ltd

5. Newbridge Asia IV, L.P.

6. Consortium of WL Ross & Co. LLC, GS Capital Partners VI Fund, Standard Chartered Bank & Housing Development Finance Corporation Ltd

7. Cargill Financial Services Corporation

8. Consortium of Shinsei Bank Ltd, Punjab National Bank and J.C. Flowers & Co. LLC

9. Natixis

10. The Blackstone Group L.P.

Shri. N Balasubramanian, Chairman, of the Board of the Company vide his letter dated September 15, 2007 has resigned from the Board of Directors.

The Stock was trading at Rs.79.85, up by Rs.2.65 or 3.43%. The stock hit an intraday high of Rs.80.85 and low of Rs.78. The total traded quantity was 8430584 compared to 2 week average of 17502919.

Source : Equity Bulls

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