New Delhi, Sept 29:
IFCI has sold 1.94 crore shares of Tourism Finance Corporation of India (TFCI), representing 24 per cent stake in the latter.
The shares have been sold at an average price of Rs 150.03 per share, IFCI said in a filing with the stock exchanges.
Prior to this move, IFCI had 26.09 per cent stake in TFCI. It may be recalled that IFCI board had in May this year given its nod to sell the company's entire 26.09 percent shareholding in TFCI.
TFCI has been the only government-promoted financial institution for funding tourism projects.
(This article was published on September 29, 2017)
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