IFCI Ltd, a prominent non-banking financial company (NBFC), share price continued their upward trajectory on Monday as excitement builds around the proposed IPO of the National Stock Exchange (NSE). The stock touched an intraday high of ₹63.48 on the NSE, gaining 4.6% for the session and extending its five-day rise to nearly 30%, after closing it has locked the 5-day gains nearly at 27%.
The recent surge is largely linked to speculation around the long-awaited NSE listing. IFCI benefits from indirect exposure to the exchange through its holdings in Stock Holding Corporation of India (SHCIL). IFCI owns 52% of SHCIL, which in turn holds 4.4% of NSE as of the December quarter.
Based on unlisted market valuations of roughly ₹2,100 per NSE share, SHCIL’s stake is estimated at nearly ₹23,000 crore. This indirect link has made IFCI shares highly sensitive to developments related to the IPO.
Encouraging signals around the public issue have contributed to the rally. SEBI Chairperson Tuhin Kanta Pandey recently stated that the regulator could grant clearance for the NSE IPO as early as this month, with the no-objection certificate (NOC) process now in its concluding phase.
SEBI has given in-principle approval to NSE’s settlement application in an older unfair market access case. Meanwhile, the government has approved a 2.5% stake divestment in NSE, with an official notification expected soon. These updates have strengthened expectations that the exchange is nearing a public listing.
IFCI, earlier known as the Industrial Finance Corporation of India, is a Government of India-owned non-banking finance company (NBFC) established in 1948 to cater to long-term financing needs of the industrial sector. It provides financial support for diverse projects including airports, roads, telecom, power, real estate, manufacturing, services and other allied industries, enabling infrastructure development and industrial growth in the country.
IFCI has shown significant volatility in recent periods. The stock is up around 14% over the past year, while its three-year performance shows a dramatic jump of more than 355%, reflecting strong longer-term momentum. In the last one month period the stock price has seen surge of 32%. IFCI is also trading above all important moving averages (MAs).
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