IFCI share price gains 9% on bids to sale its stake in NSE

IFCI

IFCI share price rose more than 9 percent intraday on December 3 after the company had received bids for stake sale in the National Stock Exchange of India Ltd (NSE).

The company, in its press release dated December 2, said that it had received bids for sale of its entire stake in the NSE.

However, the sale will be subject to obtaining consent/no-objection of the NSE and any other approval, required as per law.

The company is going to divest its entire stake in the NSE of 1,20,66,871 number of equity shares comprising of 2.44 percent of the total equity shares of the NSE.

At 12:41 hrs, IFCI was quoting at Rs 7.26, up Rs 0.28, or 4.01 percent, on the BSE.

News Source: Moneycontrol

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