Stake sale: IFCI completes round one
Cagey and tightlipped, is how one would describe the atmosphere surrounding IFCI bidding process. Eight out of ten investors have qualified the technical round for buying 26 per cent stake in IFCI, but Kotak Mahindra and Newbridge Asia have pulled out. The financial bids will start coming in from 10th of this month and IFCI wants to wrap up the process by yearend.
