Tourism Market

IFCI to partly divest stake in TFC

MUMBAI

IFCI Limited, the state-owned finance company, plans to sell a small stake in Tourism Finance Corporation of India (TFCI).

TFCI is another Delhi-based public financial institution, catering to the financial needs of the tourism industry.

IFCI holds over 42 per cent stake in TFCI. Other promoting entities include State Bank of India (9.19 per cent), Life Insurance Corporation of India (7.7 per cent) and Bank of India (4.7 per cent).

IFCI informed BSE that the company will partially disinvest its shareholding in TFCI in 2014-15. TFCI stock was down by one per cent at Rs 47.7.

Full report here Business Standard

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