IFCI jumped 4.05% to Rs 11.05 after the company said its board will meet on 27 September 2022 to consider the preferential issue of equity shares to the Government of India.
The preferential issue is subject to the approval of shareholders and stock exchanges, the company said.IFCI a non-banking finance company in the public sector. It provides financial support for the diversified growth of industries across the spectrum. The financing activities cover various kind of projects such as airports, roads, telecom, power, real estate, manufacturing, services sector and such other allied industries.
On a consolidated basis, IFCI reported net loss of Rs 208.61 crore in Q1 June 2022 as against net loss of Rs 701.65 crore in Q1 June 2021. Total income declined 20.7% to Rs 317.02 crore in Q1 June 2022 over Q1 June 2021.
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