Future of ifci
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The Delhi-based financial institution today invited Expression of Interest (EoI) from domestic and foreign investors to sell 26 per cent stake. The deadline for submitting EoI is September 14, 2007.
It will follow a two stage process for the selection of a strategic investor by January-end, 2008.
In the EoI stage, IFCI will announce the names of qualified investors on September 25. In the proposal stage, it will issue request for proposal to the qualified investors in mid-October and the due date for financial and technical bid submission will be November end, 2007. Subscription and allotment of shares to the selected investor will be done in January end next year.
The investors, who must have at least five years experience in financial services, have to fulfill the following eligibility criteria:
The applicant investor or group of investors must hav ...more