IFCI clarifies on news item regarding stake sale in arms

With reference to the news item appearing in a leading financial daily titled "IFCI zooms on talk of stake sale in arms", IFCI Ltd has clarified that the Company has not entered into any agreement to sell any strategic investment including equity in Company's Associate / Subsidiary Companies other than in two unlisted Companies which have been already informed earlier namely 7% stake (31,50,000 shares) in National Stock Exchange (NSE) for which only agreement to sell has been signed and 21.13% stake (18,60,600 shares) in ICRA Ltd through an IPO for which draft prospectus has reportedly been filed by ICRA Ltd with SEBI.

Further the Company has informed that, the Company is not aware of any MNC Bank's Proposal with regard to the Company.

Source : Equity Bulls

Keywords