IFCI's Exit From Two Large Exposures In Thermal Power Sector
IFCI Limited has made an exit from the following two large exposures in the thermal power sector in the last fortnight:-
(i) The monetisation of investment in 1600 MW coal-based thermal power project (the largest project equity investment) - generating upside of more than T300 crore on the investment of T432.72 crore. In this fiscal year, IFCI realized T745.29 crore; and
(ii) Resolution of largest NPA having an exposure to 450 MW gas-based thermal power project- adopting open bidding under the Swiss Challenge method. The auction was conducted with Reserve Price of 1427.50 crores and IFCI realized 1428.61 crores.