Preferential share allotment to government raises Rs 100 crore for IFCI.
- IFCI Ltd. raised Rs 100 crore on Thursday by preferentially allotting shares to the government.
- In a regulatory filing, IFCI said the Committee of Directors on October 27 allotted 9,29,36,802 equity shares to the Government of India at 10.76 apiece, including a premium of Rs 0.76.
- The government’s shareholding has climbed from 64.86 percent to 66.35 percent of the company’s entire paid-up share capital, it stated.
- Company shareholders authorised the preferred equity share issue to the government as promoter earlier in the day.