IFCI raises Rs 100 crore via preferential allotment of shares to govt

Long-term infrastructure financier IFCI Ltd on Thursday raised Rs 100 crore through preferential allotment of shares to the government.

The Committee of Directors at its meeting held on October 27 has allotted 9,29,36,802 number of equity shares at a price of 10.76 each including a premium of Rs 0.76 each share to the Government of India, IFCI said in a regulatory filing.

Following the allotment of equity shares to the Government of India on preferential basis, the shareholding of the government has increased from 64.86 per cent to 66.35 per cent of the total paid-up share capital of the company, it said.

Earlier in the day, shareholders of the company approved the proposal to issue the preferential issue of equity shares to the government as a promoter.