Why are IFCI shares rising in today's weak market?

IFCI share price today: IFCI shares zoomed as much as 11 per cent in trade today after the NSE appointed a record 20 merchant bankers for its long-awaited IPO

IFCI share price today: Shares of IFCI Ltd, a public sector NBFC under the Ministry of Finance, are in high demand today in an otherwise weak market after the National Stock Exchange (NSE) appointed a record 20 merchant bankers for its long-awaited IPO.  IFCI shares opened 2 per cent higher at ₹55 on the NSE and went on to make a high of ₹59.83, up 11 per cent. As of 10:45 AM, IFCI shares traded 6 per cent higher at ₹57.19 versus a decline of 1.2 per cent in the Nifty 50 index.  Trading activity saw a sharp uptick as a total of 11.1 million equities of the company changed hands versus the previous session's total traded quantity of 11.3 million.  Today's strong buying interest was buoyed after the NSE appointed a large consortium of merchant bankers, law firms, and other advisors to manage the proposed share sale. This includes as many as 20 investment bankers.  READ | Kalpataru shares jump 10% in weak markets; here's what's fuelling the gain  The exchange said on Thursday that its IPO committee, chaired by NSE chairman and former bureaucrat Srinivas Injeti, has approved the selection of intermediaries following a “structured, transparent, and competitive process”.  The exchange could file its offer document with the Securities and Exchange Board of India (Sebi) in less than two months, and the IPO is very likely before the end of this calendar year.  IFCI holds an indirect stake in NSE via its subsidiary Stock Holding Corporation of India (SHCIL). IFCI owns a 52.86 per cent stake in SHCIL.  According to NSE's December 2025 quarter shareholding pattern, SHCIL has 4.4 per cent stake in the exchange.  The previous record to appoint highest bankers was held by ICICI Prudential Asset Management Company. The asset manager had appointed 18 bankers for its ₹10,600 crore IPO in December 2025.