What is the short term target for ifci. will it cross 120 this week ?
About: Company: IFCI Ltd.
The scramble for 26 per cent in IFCI has more to do with a likely entry into banking than the strength of its books.
P. VAIDYANATHAN IYER
16 Nov 2007
The 17th floor data room at IFCI Tower in south Delhis Nehru Place is buzzing with activity. The eight short-listed bidders for a 26 per cent stake in IFCI the countrys oldest and only surviving developmental financial institution are poring over the companys accounts for hidden liabilities and, of course, unlocked wealth. What they arent telling anybody is that the biggest unlocked wealth isnt in the accounts yet. That the biggest attraction in IFCI is the banking regulator Reserve Bank of Indias (RBI) inclination to grant a banking licence to the firm a rare opportunity to enter a lucrative sector where no new player has been allowed since February 2002 when Yes Bank and Kotak Bank were given the nod.
For whoever comes on board IFCI, this will be nothing short of a lottery, because the future presents a ...more
moreover many buyers are interested in the merchant banking license ifci holds...