The wait is almost over for all those investors eyeing a stake in the oldest financial institution in the country — IFCI. The board of IFCI is meeting on August 4 to kick-start the process of inviting bids for the strategic sale.
Meanwhile, speculation is rife that among the many interested parties, Barclays is willing to pay a premium of Rs 85 per share. Sources at IFCI maintain that bidders will be selected on a competitive basis.
The price tag for IFCI can be more than Rs 4,000 crore, industry sources said. Various portfolio investments, where value can be unlocked at a later stage, can yield Rs 2,000 crore, recoveries from NPAs could yield another Rs 2,000 crore, and real estate assets another Rs 3,000 crore.
Read more in The Economic Times article.
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