Ifci- A Breakout In The Anvil??
- Thread starter koshyssj
- Start date
Latest from the IFCI Board room..........
BS Reporter / New Delhi August 04, 2007
IFCI, the country's oldest financial institution, will invite expression of interest from strategic investors in the middle of this month to sell 26% stake in the company.
The board, which met on Saturday, approved the draft report submitted by consultant firm Ernst & Young, on induction of a strategic investor to revive the business of the financial institution.
'Expression of interest (EoI) will be invited in the middle of this month (August 13-14) and the process will culminate in 4-6 months,' an IFCI source said.
Based on the EoIs, the company would shortlist investors and issue request for proposal by October. The strategic investor induction process is likely to be completed by January, 2008.
IFCI, which was in red since 2000, turned black in 2006-07 with net profit of Rs 898 crore. The company has also began lending money in a small way in 2006-07. It lent Rs 1,000 crore to top corporates in 2006-07 and expects to disburse Rs 2,500 crore in the current financial year.
IFCI may go for a partner that brings in money as well as new product strategy to position it as a viable business proposition in the long-term.
IFCI has made provisions for entire non-performing assets (NPAs) and net NPAs stood at zero as of March, 2007. The company's accumulated losses stood at Rs 4,600 crore till March 31, 2006.
Shareholding in IFCI is widely dispersed. LIC holds 8.4% while IDBI holds 5.01% stake in IFCI.
friends, cheer up.... as the rumours say, the Rel Capital will also bid for the stake sale. E & Y\'s investment banking division has already started scouting & making presentation to big global investors with the valuation of Rs. 300 plus & stating that they can get this company at Rs. 130 to 150 per share. which even at current EPS is giving a PE of just 10.
So, guys enjoy the market falling on monday & IFCI gaining 10% or above on monday
warm regards
koshyssj
BS Reporter / New Delhi August 04, 2007
IFCI, the country's oldest financial institution, will invite expression of interest from strategic investors in the middle of this month to sell 26% stake in the company.
The board, which met on Saturday, approved the draft report submitted by consultant firm Ernst & Young, on induction of a strategic investor to revive the business of the financial institution.
'Expression of interest (EoI) will be invited in the middle of this month (August 13-14) and the process will culminate in 4-6 months,' an IFCI source said.
Based on the EoIs, the company would shortlist investors and issue request for proposal by October. The strategic investor induction process is likely to be completed by January, 2008.
IFCI, which was in red since 2000, turned black in 2006-07 with net profit of Rs 898 crore. The company has also began lending money in a small way in 2006-07. It lent Rs 1,000 crore to top corporates in 2006-07 and expects to disburse Rs 2,500 crore in the current financial year.
IFCI may go for a partner that brings in money as well as new product strategy to position it as a viable business proposition in the long-term.
IFCI has made provisions for entire non-performing assets (NPAs) and net NPAs stood at zero as of March, 2007. The company's accumulated losses stood at Rs 4,600 crore till March 31, 2006.
Shareholding in IFCI is widely dispersed. LIC holds 8.4% while IDBI holds 5.01% stake in IFCI.
friends, cheer up.... as the rumours say, the Rel Capital will also bid for the stake sale. E & Y\'s investment banking division has already started scouting & making presentation to big global investors with the valuation of Rs. 300 plus & stating that they can get this company at Rs. 130 to 150 per share. which even at current EPS is giving a PE of just 10.
So, guys enjoy the market falling on monday & IFCI gaining 10% or above on monday
warm regards
koshyssj
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| J | Ifci | General Trading & Investing Chat | 1 | |
| J | IFCI ready to fly ??? | Introductions | 0 | |
| D | Ifci | Position Trading | 0 | |
| S | Need Suggestion on IFCI and GMR Infra options | Derivatives | 0 | |
|
So Should I start booking profits in IFCI? Chart attached | Equities | 6 |