On Friday, IFCI Ltd was gaining investors’ spotlight. On November 29, 2024, IFCI share price opened at ₹64.60, almost the same as its previous close of ₹64.56. At 11:30 AM, the share price of IFCI was trading at ₹64.10, down by 0.71%.
Recently, on November 22, 2024, the Ministry of Finance’s Department of Financial Services (DFS) granted IFCI Limited in-principle approval to move forward with the consolidation of the IFCI Group.
This strategic initiative involves the merger and amalgamation of IFCI Limited, StockHolding Corporation of India Limited, and other group entities to enhance operational efficiency and streamline business operations under a unified structure.
At the company level, the plan includes the consolidation of StockHolding Corporation of India Limited, IFCI Factors Limited, VFCI Infrastructure Development Limited, and IIDL Realtors Limited with IFCI Limited, the listed entity. Additionally, the broking businesses, including StockHolding Services Limited, IFCI Financial Services Limited, IFIN Commodities Limited, and IFIN Credit Limited, will be merged into a single entity that will function as a direct subsidiary of the consolidated listed entity.
Other group companies, such as StockHolding Document Management Services Limited, StockHolding Securities IFSC Limited, IFIN Securities Finance Limited, IFCI Venture Capital Funds Limited, and MPCON Limited, will remain as direct subsidiaries of the consolidated listed entity. This restructuring aims to create a more efficient and focused organisation while maintaining strategic oversight of subsidiaries that contribute to the group’s diverse operations.
IFCI, formerly known as Industrial Finance Corporation of India, is an Indian government-owned non-banking finance company set up to cater to the long-term finance needs of the industrial sector.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
