IFCI Ltd. Pays 10% Interim Dividend to the Government

IFCI Ltd. Pays 10% Interim Dividend to the Government; CEO & MD,IFCI Presents a Dividend Cheque of Rs.92.30 Crore to Shri Arun Jaitley, Finance Minister 

Shri Malay Mukherjee, Chief Executive Officer & Managing Director, IFCI Ltd. handed-over here today a Dividend Cheque of Rs.92.30 crore, which is 10% interim dividend for 2015-16 towards 55.53% of GOI equity holding in IFCI, to Shri Arun Jaitley, Finance Minister, Government of India. 

This interim dividend is of Rs.1 per equity share of Rs.10 each for the Financial Year 2015-16. In the Financial Year 2014-15, 15% dividend has been paid by the Company. 

As per the financial performance for the 9 months period ending December 31, 2015, as reported by IFCI Ltd., it earned a net profit of Rs.438 crore during this period and its Business Assets have grown to Rs. 34,715 crore as on December 31, 2015 from Rs.29,458 crore a year ago. Its Debt Equity Ratio stands at 4.4% and Capital Adequacy Ratio was 17.6% against the regulatory requirement of 15%. 


Investiture Ceremony and Annual Central Excise Day-2016 

The Annual Investiture Ceremony for conferment of Presidential Award of Appreciation Certificates to officers of the Customs and Central Excise Department for – ‘Specially Distinguished Record of Service’ announced on the occasion of the Republic Day, 2015 and the Annual Central Excise Day Function shall be held on 24th February, 2016 at Manekshaw Centre, Khyber Lines, Delhi Cantonment. The Minister of Finance, Shri Arun Jaitley will be the Chief Guest and Minister of State of Finance Shri. Jayant Sinha shall be the Guest of Honour on the occasion. 

Forty officers of Customs, Central Excise & Service Tax will be conferred with the Presidential Award of Appreciation Certificate for “Specially Distinguished Record of Service” and Twenty five officers will receive “Commendation Certificate” on the occasion of Central Excise Day 2016. 


NTPC OFS Oversubscribed 1.8 Times by the Investors of Different Categories 
The second CPSE disinvestment of the last quarter of the fiscal year 2015-16 broke with the falling trend in the market with the NTPC OFS getting oversubscribed 1.8 times on a day when the Sensex Declined by 1.59% or 378.61 points.

On offer was 5% paid-up capital of the company comprising 41, 22, 73,220 shares, each of FV of Rs.10. Out of the shares on offer for sale, 20% are reserved for retail investors i.e. those investors who place bids for shares of total value of not more than Rs.2.00 lakh.

As per the new SEBI guidelines only non retail investors were allowed to place their bids today (T Day) for 80% of unreserved portion. The retail investors shall bid tomorrow (T+1) for 20% of the portion reserved for them and they will have the option to place a price bid or opt for bidding at cut off price. The new arrangement provides retail investors the benefit of discovering the cut off price of T day and place their bids on T+1 day on a more informed basis than was the case earlier. As usual retail investors will in addition be entitled to a 5% discount. The discount to retail investors shall be applicable to bids received on T+1.

Unsubscribed portion of the shares reserved for retail investors shall be allocated to non retail bidders on T+1 day at a price equal to cut off price or higher as per bids. In this regard, option shall be provided to such non retail bidders to indicate their willingness to carry forward their bids to T+1 day. Effectively the bidding for the OFS will remain open for two days.

With this disinvestment, the Government of India share in NTPC will come down to 69.96%.
At the end of the day with total subscription of Rs.7287.57 crore the issue stood oversubscribed by 1.80 times.

The indicative price was 122.22 which is above the floor price. The previous day (22/02/2016) closing price was Rs. 126.85 (BSE)/ Rs. 127 (NSE) and floor price was fixed at Rs. 122.

The highlight of the issue has been the encouraging FII participation of Rs.925.45 crore which works out to be 22.96%.

The issue was marked by robust all round participation from different categories:

Value (Rs. crore)
20% bidding on 24/02/16
Mutual Funds
436.57 (10.83%)
Banks (public & private)
Insurance Companies (public & private)
5325.33 (132.11%)
Others (proprietary, HNI ETC)


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