IFCI Limited announced a private placement of 29,36,85,756 equity shares at a price of INR 13.6200000111684 per share for proceeds of INR 4,000,000,000 on March 28, 2023. The transaction will include participation from returning investor India currently owns 66.35% stake in the company. The company will issue the securities through preferential allotment.

The transaction has been approved by the board of directors of the company. The transaction is subject to approval from the shareholders of the company in the Extra-Ordinary General Meeting of the company to be conducted on April 27, 2023.