IFCI to sell 21% of ICRA through IPO

IFCI Ltd has announced that the Company has decided to sell its equity holding of 21% along with Specified undertaking of UTI (SUUTI)'s holding of 8% in ICRA through an IPO and the Company understands that ICRA has filed draft prospectus with SEBI for approval. Further, the Company has signed an agreement to sell its 7% holding in National Stock Exchange.

Besides the above two, the Company has not entered into any agreement, so far, to sell any other strategic investments, including equity, in its associates / subsidiary Companies. However, in normal course of business, the Company keeps on disinvesting, in small quantities, its holding in listed companies through stock exchanges and unlisted equity of borrower companies through negotiations.

Source : Equity Bulls

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