The board of IFCI approved the preferential issue of 29,36,85,756 equity shares for an amount aggregating upto Rs 400 crore.
IFCI will hold an extra-ordinary general meeting (EGM) on 27 April 2023, to seek the shareholder approval for the proposed preferential allotment.
IFCI is engaged to provide financial support for the diversified growth of Industries across the spectrum. The financing activities cover various kinds of projects such as airports, roads, telecom, power, real estate, manufacturing, services sector and such other allied industries.
The company reported consolidated net profit of Rs 92.21 crore in Q3 FY23 as compared to net loss of Rs 706.37 crore in Q3 FY22. Total Income jumped 23.5% year on year to Rs 350.96 crore in Q3 FY23.
Powered by Capital Market - Live News