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IFCI 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. The company has however not disclosed the names of power projects. The first case is monetisation of an investment in 1,600 MW coal-based thermal power project, generating upside of more than Rs 300 crore on the investment of Rs 432.72 crore. In FY19, IFCI realised Rs 745.29 crore. The second case relates to resolution of NPA in a gas-based thermal power project. The auction was conducted with reserve price of Rs 427.50 crore and IFCI realised Rs 428.61 crore. |
