Preferential share allotment to government raises Rs 100 crore for IFCI.

HomeStock MarketPreferential share allotment to government raises Rs 100 crore for IFCI.

Published on

October 28, 2022

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.