Govt raises stake in state-owned IFCI to 51%

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ifciThe government has increased its stake in the infrastructure financing firm ICFI Ltd to 51.04 per cent.

Government has acquired IFCI’s 6,00,00,000 Preference shares of Rs 10 each from certain scheduled commercial banks..

IFCI has become a ‘Government Company’ as per the provisions of Section 2(45) of the Companies Act, 2013, with effect from April 7, 2015.

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