IFCI tanks 10% on huge volume after massive 102% surge from March low

In the past two trading days, IFCI's stock price corrected 16% from its 52-week high amid profit booking after the NSE filed the DRHP for its long-awaited IPO.

IFCI share price movement

Share price of IFCI tanked 10 per cent to ₹80.71 on the BSE in Thursday’s intra-day amid heavy volumes in an otherwise rangebound market owing to profit booking, after the National Stock Exchange (NSE) filed the draft red herring prospectus (DRHP) for its long-awaited initial public offering (IPO). 

The stock price of the state-owned financial institution has corrected by 16 per cent from its 52-week high of ₹95.75, touched on Wednesday, June 17. Prior to that, the market price of IFCI more-than-doubled or zoomed 102 per cent from its March 2026 low of ₹47.40 on the BSE. 

Despite the decline over the past two days, IFCI outperformed the market by soaring 75 per cent, as against 8.6 per cent decline in the BSE Sensex. 

 

At 02:01 PM on Thursday, IFCI stock quoted 9 per cent lower at ₹81.99, as compared to 0.11 per cent rise in the benchmark Sensex. The average trading volumes at the counter jumped 1.5 times with a combined 272.44 million equity shares changing hands on the NSE and BSE.  CATCH STOCK MARKET UPDATES TODAY LIVE

NSE files DRHP for IPO

The NSE took a major step towards its long-awaited IPO, filing a DRHP with the Securities and Exchange Board of India (Sebi) nearly a decade after its first attempt to go public. 

According to a Business Standard report, the proposed issue is estimated at around ₹30,000 crore, potentially making it the largest IPO in Indian history. The offer will comprise up to 148.9 million equity shares, representing nearly 6 per cent of NSE’s paid-up capital. The issue will be entirely an offer for sale (OFS), with no fresh issue component, meaning the exchange itself will not receive any proceeds from the sale. Following regulatory approvals, NSE shares will be listed on the rival exchange BSE. 

IFCI, a government-owned development finance institution, has indirect exposure to the NSE through its investment in Stock Holding Corporation of India Limited (SHCIL). 

IFCI holds 52.86 per cent equity shareholding in Stock Holding Corporation, making it a subsidiary company of IFCI. The company acts as a Central Record Keeping Agency (CRA) for collection of stamp duty. According to NSE's shareholding pattern as of March 31, 2026, Stock Holding Corporation owned 4.44 stake or 110 million equity shares in the exchange. 

According to the DRHP, Stock Holding Corporation of India proposed to sell up to 10.89 million equity shares via OFS.  READ | Kirloskar Ferrous shares soar 14%, hit 52-week high on export order win

IFCI’s clarification on price movement

There is no such information or event, in company's possession, which would have a bearing on the movement in price behaviour of the company's security, IFCI said on June 17 on clarification/response in respect of significant movement in the price of company's security at the exchange, in the recent past. 

The exchanges sought clarification from IFCI on June 16, 2026 with reference to significant movement in price, in order to ensure that investors have latest relevant information about the company and to inform the market so that the interest of the investors is safeguarded.