The finance ministry is mulling induction of some strategic investors in IFCI Ltd. as part of a restructuring package for the domestic financial institution, a senior banking division official said today. | |
| "We are looking to get some strategic investors in IFCI as part of the restructuring exercise. Some investors have already evinced interest in picking up a stake in IFCI," the official said. "The final decision, though, will be taken by the IFCI management," the official said. |
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| The official refused to name the investors looking to buy stake in IFCI. |
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| Media reports have said Citibank has expressed interest in acquiring stake in IFCI at Rs 52 a share to the finance ministry. |
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| The official said while government has no direct holding in IFCI, it wants to devise a restructuring package for India's oldest financial institution hat has incurred steep losses. |
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