Ifci In Talks With Lenders On Deferral Of Frn Put Option

Even as financial institution IFCI Ltd awaits a $100 million government guarantee to help it raise funds to meet its FRN obligations, it has initiated talks with foreign lenders to seek a postponement in exercising the put option on the FRNs.

IFCI chairman V P Singh met finance secretary S Narayan today evening to discuss the restructuring of the beleaguered institution.