Infrastructure lending firm IFCI Ltd today said it will partially divest its stake in the Stock Holding Corporation.For latest news on Business & Budget 2017, like us on Facebook and follow us on Twitter.
Besides, the company will also pare its entire holding in Assets Care and Reconstruction Enterprise (ACRE).
The decisions were taken at the Board of Directors meeting held today.
"... at its meeting held on January 4, 2016, IFCI has approved partial disinvestment of equity shareholding of IFCI in Stock Holding Corporation of India Limited (SHCIL) and disinvestment of the entire stake in Assets Care and Reconstruction Enterprise Limited," it said in a regulatory filing.
The IFCI stock closed 4.22 per cent down at Rs 27.25 on BSE today.