PSU stock, IFCI shares surges 3% as Government of India increases stake in company
Following the Government of India's acquisition of equity shares, the company's shareholding grew from 71.72 to 72.57 percent of its total paid-up capital.
PSU stock, IFCI shares surges 3 as Government of India increases stake in company
The stock of IFCI, a Public Sector Undertaking (PSU) and Non-Banking Financial Company (NBFC), is currently in focus following an increase in the Government of India's stake.
This change occurred after the company allotted 8,07,23,280 equity shares for Rs. 61.94 per share to the Government of India (represented by the President of India). This preferential allotment, which was based on a meeting held on February 28, 2025, totals up to Rs. 500 crore.
Following the Government of India's acquisition of equity shares, the company's shareholding grew from 71.72 to 72.57 percent of its total paid-up capital.
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IFCI's share price increased by 3.42% during the early trading session on Monday, reaching a high of Rs. 42.52 for the day. The stock retreated from the day’s high and is trading at Rs. 40.77, 0.83% lower than the previous close of Rs. 41.11 per share.
In the past year, the stock has had a negative return of around 7 percent and has underperformed the Nifty Index.
IFCI was established in 1948, and is a systemically important non-banking finance company providing medium and long-term finance. It was reconstituted as a company in 1993 and is now transitioning into an advisory firm.
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