IFCI acquires 49% equity stake in Rajasthan Consultancy

Written By Unknown on Selasa, 01 Juli 2014 | 23.25

IFCI has acquired the equity shareholding in RAJCON from one of its associate companies HARDICON Limited (HARDICON).

IFCI  Limited has acquired 49 percent equity stake in unlisted Rajasthan Consultancy Organisation Ltd (RAJCON) for an undisclosed amount.

"As a result of the said purchase of equity shares, IFCI's shareholding in RAJCON shall become 49 percent of the total paid-up equity capital and RAJCON shall become an associate company of IFCI," the company said in a release.

IFCI has acquired the equity shareholding in RAJCON from one of its associate companies HARDICON Limited (HARDICON). IFCI, previously Industrial Finance Corporation of India, is a government owned development bank catering to long-term finance needs of the industrial sector. Shares of the company closed down 0.95 percent at Rs 41.60 apiece on BSE.

IFCI stock price

On July 01, 2014, IFCI closed at Rs 41.60, down Rs 0.4, or 0.95 percent. The 52-week high of the share was Rs 44.90 and the 52-week low was Rs 17.85.


The company's trailing 12-month (TTM) EPS was at Rs 3.06 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 13.59. The latest book value of the company is Rs 41.68 per share. At current value, the price-to-book value of the company is 1.00.


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