Weighed down by redemption and interest payment obligations of over Rs 1,100 crore in the current financial year, the cash-strapped IFCI Ltd is planning to sell debentures and ask bond holders to reinvest at lower interest rates.
Senior IFCI executives told Business Standard that the institution has initiated talks with Industrial Development Bank of India and Life Insurance Corporation to raise funds by selling debentures to tide over the immediate liquidity crunch, to the tune of Rs 375-400 crore.
