IFCI to merge with IDBI

The government has firmed up plans to merge financial institution IFCI Ltd with IDBI, which was recently converted into a bank. The exercise, together with IDBI's takeover of another financial......

IFCI raises bar for strategic investor

IFCI Ltd, the troubled term lender that has started the process of inducting a strategic partner, has agreed to its creditor banks' demands to convert all their debenture holdings into equity......

Sterlite-led consortium frontrunner for IFCI stake

A consortium of Anil Agarwal-led Sterlite Industries and global financial services major Morgan Stanley has emerged as the frontrunner in the race to acquire a strategic 26 per cent equity stake in......

Banks pave path for IFCI debt recast

The restructuring of IFCI Ltd is expected to be completed by the end of the current financial year as banks have agreed to recast the institution's liabilities. The revamp will cover a third of the......