New Delhi: State-owned IFCI on Tuesday said its board has approved a proposal for raising up to Rs 500 crore capital through the issuance of equity shares to the government.
"12,39,77,188 number of Equity Shares will be issued for an amount aggregating up to Rs 500 crore," IFCI said in a regulatory filing.
These shares would be issued subject to the approval of Shareholders at the Extraordinary General Meeting to be held on April 18, 2024, it said.
Following the capital infusion, the government holding in the oldest financial institution would increase. Currently, the Government of India holds 70.32 per cent stake in
IFCI.