IFCI gets shareholders' approval to raise up to Rs 1,000 cr via bonds

Infrastructure term lender IFCI Ltd on Friday said it has received shareholders' approval to raise up to Rs 1,000 crore in tranches by issuing various securities.

The company sought authorisation from the shareholders for making offer to subscribe to securities/raise funds through private placement in one or more tranches up to an amount of Rs 1,000 crore, during a period of one year from the date of passing of the special resolution, it said.

The fundraise through private placement was passed with requisite majority as over 99 per cent of the votes were cast in favour of the resolution, IFCI said.