IFCI gets money!

IFCI today figures very strongly among the top five gainers on the BSE since opening bell. The stock price rose 6.5% to Rs.14.60 and remains very firmly in the green.

The company announced yesterday that it has received Rs 492 crore towards security receipts under the IBC resolution plan for Binani Cement through NCLT.

IFCI, which holds 42,16,850 security receipts of the face value of Rs 1,000 each has received Rs 491.84 crore, net of TDS of Rs 30.55 crore, pursuant to the said resolution.