IFCI exits two large exposures in thermal power sector

IFCI announced that it has made an exit from the following two large exposures in thermal power sector in the last fortnight :-

(i) Monetisation of an investment in 1600 MW coal based thermal power project (the largest project equity investment) - generating upside of more than t300 crore on the investment of Rs 432.72 crore. In this fiscal year, IFCI realized Rs 745.29 crore; and

(ii) Resolution of largest NPA having an exposure to 450 MW gas based thermal power project- adopting open bidding under Swiss Challenge method. The auction was conducted with Reserve Price of Rs 427.50 crore and IFCI realized Rs 428.61 crore.

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