Indian Government Infuses ₹500 Crore into IFCI for Financial Stability and Restructuring
| Aspect | Details |
|---|---|
| Capital Infusion | ₹500 crore |
| Purpose | Strengthen financial health, support restructuring |
| Government Stake | 71.72% (as of September 2024) |
| Approval Mechanism | First Supplementary Demand for Grants for 2024-25 |
| Source of Funds | Reallocated from savings in the capital section |
| IFCI Losses (Q2 FY24) | ₹22 crore |
| IFCI Losses (H1 FY24) | ₹170 crore |
| Earlier Fundraising (FY24) | ₹500 crore through equity shares |
| Restructuring Plan | Amalgamation of IFCI with subsidiaries like StockHolding Corporation of India Ltd and IFCI Factors Ltd |
| Establishment Year | 1948 |
| Transition to Company | 1993 (under Indian Companies Act, 1956) |