The country’s oldest financial institution IFCI said Monday it has sold stake in two thermal power projects for Rs 1,174 crore. The exit from thermal power projects is part of the exercise to monetise unquoted equity investments and reduce non-performing asset (NPA) levels, IFCI said in a regulatory filing. The company, however, did not disclose the names of power projects.
“Monetisation of an investment in 1600 MW coal based thermal power project (the largest project equity investment) – generating upside of more than Rs 300 crore on the investment of Rs 432.72 crore. In this fiscal year, IFCI realised Rs 745.29 crore,” it said.
