IFCI proposes to raise Rs.3,000 crore from debt, including bonds, in the current fiscal to support expansion of its loan book.

The company is looking at fresh lending worth Rs.6,000 crore, including take-out finance where IFCI will take up stake from other lenders during 2018-19.

Furthermore, E S Rao, IFCI MD and CEO stated, “On an average, we will be targeting loan sanction of Rs.500 crore per month during this year. To fund this we have to raise Rs.3,000 crore from debt.” The lender also expects to recover approx Rs.2,000 core form the resolution of non-performing assets (NPAs), during the current fiscal.

Read EquityPandit’s Technical Analysis of Indian Stock Market