Govt evaluating options to sell two subsidiaries of IFCI in revival bid

Not keen on infusing funds into NBFC, to unlock value created by subsidiaries

The government is evaluating options of selling subsidiaries of IFCI to infuse money into the non-banking lender.

The government is not keen on infusing funds into IFCI, and plans to unlock value created by its subsidiaries — Stock Holding Corp­ora­tion of India and IFCI Infr­a­structure Development, said a senior government official. 

IFCI has been saddled with soured assets and its net non-performing assets (NPAs)-to-advances ratio was 42.7 per cent as of March, against 31.8 per cent a year ago, according to its annual report.

The company’s gross NPA ratio was at 62.5 per cent as of June 30, against 61.9 per cent as