IFCI exits from two large exposures in thermal power sector
11th Mar 2019

IFCI has made an exit from two large exposures in thermal power sector. The company has exited from monetisation of an investment in 1600 MW coal based thermal power project (the largest project equity investment) - generating upside of more than Rs 300 crore on the investment of Rs 432.72 crore. In this fiscal year, IFCI realized Rs 745.29 crore.

Further, the company has exited from 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.

IFCI was established with intent to provide long-term finance needs of the industrial sector. It founded and developed various institutions namely ICRA for credit assessment rating, Tourism Finance Corporation of India (TFCI) for promotion of the hospitality industry, among others.