IFCI Industrial Finance Corporation of India | History

IFCI Ltd. (IFCI) since its inception in 1948 had a vision to empower the community through socio-economic development of the country as a whole.

Profile of Industrial Finance Corporation of India IFCI

IFCI Ltd is a Non-Banking Finance Company in the public sector. Established in 1948 as a statutory corporation, IFCI is currently a company listed on BSE and NSE. IFCI manages Six number of subsidiaries and one associate under its fold. The company provide financial support for the diversified growth of Industries across the spectrum.

The financing activities cover various kind of projects such as airports, roads, telecom, power, real estate, manufacturing, services sector and such other allied industries. During its 70 years of existence, mega projects like Adani Mundra Ports, GMR Goa International Airport, Salasar Highways, NRSS Transmission, Raichur Power Corporation, to name a few, have been setup with financial assistance of IFCI.

The company has played a pivotal role in setting up various market intermediaries of repute in several niche areas like stock exchanges, entrepreneurship development organizations, consultancy organizations, educational and skill development institutes across the length and breadth of the country.

Subsidiaries of IFCI Limited

The IFCI Limited as on March 31, 2020 has 6 (six) subsidiaries viz.

  • IFCI Financial Services Ltd,
  • IFCI Venture Capital Funds Ltd.,
  • IFCI Infrastructure Development Ltd.,
  • IFCI Factors Ltd.,
  • MPCON Ltd.,
  • Stock Holding Corporation of India Ltd.

The Company also has 7 (seven) step-down subsidiaries viz.

  • IIDL Realtors Pvt. Ltd.,
  • IFIN Commodities Ltd.,
  • IFIN Credit Limited.,
  • IFIN Securities Finance Ltd.,
  • StockHolding Document Management Services Ltd.,
  • SHCIL Services Ltd. and
  • StockHolding Securities
  • IFSC Limited.

Stock Holding Corporation of India Ltd. (SHCIL)

SHCIL is one of the largest Depository Participants, besides being the country’s largest premier Custodian in terms of assets under custody, provides post trading and custodial services to institutional investors, mutual funds, banks, insurance companies, etc.

It acts as a Central Record Keeping Agency (CRA) for collection of stamp duty in 22 States and Union Territories (UTs) on pan India basis, e-court fee in 12 State / UTs and e-registration in 5 States / UTs.

SHCIL is one of the largest Professional Clearing Member of the country. It distributes
Fixed Deposits, Bonds & NCDs of reputed Institutes & Corporates, Mutual Fund Schemes, Initial Public Offers (IPO’s) and National Pension System (NPS) etc. It is a corporate agent registered with IRDA for distribution of insurance products.

StockHolding has three wholly owned subsidiaries viz.

  • SHCIL Services Ltd. (SSL), the broking arm of StockHolding, is providing stock broking services to retail and institutional clients across the country. SSL offers services in Cash & F & O segment of BSE & NSE.
  • StockHolding Document Management Services Limited (Stock Holding DMS). StockHolding DMS is a Microsoft Gold certified partner for all its products and services and is ISO 9001:2008 and CMMI Level-3 certified company. StockHolding DMS provides End to End Document Management Solutions.
  • StockHolding Securities IFSC Limited. Stockholding securities IFSC was set up for operations in the International Financial Services Centre at Gujarat International Financial Tec City (GIFT) in Gujarat.

IFCI Infrastructure Development Ltd. (IIDL)

IIDL a wholly owned subsidiary of Your Company was set up to venture into the real estate and infrastructure sector as an institutional player. Since inception, it has developed projects all over India.

Serviced Apartments known as “Fraser Suites New Delhi” is being run by IIDL in collaboration with Frasers Hospitality Pte Ltd., Singapore. The project has Gold Standard, 9 stories and 92 luxurious Serviced

Apartments comprising studios, one bedroom & two bedroom suites, with an ideal living environment, thus making it one of the most sought-luxury apartments. On the residential front, IIDL has successfully developed two projects viz. 21st Milestones Residency, Ghaziabad, Uttar Pradesh and IIDL Aerie at Panampilly Nagar, Kochi, Kerala.

IIDL was awarded the prestigious Financial City project spread over an area of 50 acres near Bengaluru International Airport, Karnataka for development. IIDL has created a high quality infrastructure at site and sub-leased the plots to Banks/Institutions mostly Public Sector Banks. Site development work was completed by IIDL within given time frame. However construction on individual plots allotted to subleases in yet to be completed.
Besides, IIDL has managed various prestigious assignments as Project Management Consultants.

IFCI Venture Capital Funds Ltd. (IVCF)

IVCF was set-up with the objective to broaden entrepreneurship base in India by providing risk capital mainly to first generation entrepreneurs under “Risk Capital Scheme”.

IFCI Venture is presently managing 2 Schemes viz. Venture Capital Fund for Scheduled Castes (VCF-SC) and Venture Capital Fund for Backward Classes (VCF-BC) for Ministry of Social Justice and Empowerment (MoSJE) under a Fund/Trust viz. Venture Capital Fund
For Scheduled Castes and Backward Classes.

The Fund is registered as Alternate Investment Fund (AIF) Category – II with SEBI. VCFSC is a first of its kind Venture Capital Fund in India dedicated to promote entrepreneurship among the Scheduled Castes by providing concessional finance to them.

Similarly, VCF-BC was setup by MoSJE for providing concessional finance to Backward Class entrepreneurs.

IFCI Financial Services Ltd. (IFIN)

IFIN was set up by your Company, to provide a wide range of financial products and services to institutional and retail clients. IFIN is primarily involved in the business of Stock Broking, Currency Trading, Depository Participant Services, Merchant and Investment Banking, Insurance (Corporate agent for both life and General Insurance), Mutual Fund Products Distribution and Corporate Advisory Services.

IFIN is a registered member of SEBI, National Stock Exchange of India Limited (NSE), BSE Limited (BSE), Metropolitan Stock Exchange of India Limited (MCX-SX), National Commodity and Derivatives Exchange Limited (NCDEX), NSDL and CDSL.

IFIN has three wholly-owned subsidiaries namely IFIN Securities Finance Ltd, IFIN
Commodities Ltd and IFIN Credit Ltd IFCI Factors Ltd. (IFL)

IFL is a one of the key players in the country, providing factoring services/ receivable finance, catering largely to the MSME segment. IFL also offers Corporate Loan for a tenor of upto five years.

MPCON Ltd. (MPCON)

MPCON is a professionally managed Technical Consultancy Organization promoted by your Company. It is a premier consulting organization having base in Central India, providing quality consulting services.

The Company consolidated its project consultancy business and also enhanced its presence in the training and capacity building spheres. It has bagged skilling projects in 11 states of the country including Madhya Pradesh and Chhattisgarh from various Central & State Government departments/Corporations.

Having status as NSDC partner, it is working with National Safai Karamcharis Finance
& Development Corporation (A Government of India Undertaking, under the Ministry of Social Justice and Empowerment), National Handicapped Finance and Development Corporation (Department of Empowerment of Persons with Disabilities, Ministry of Social Justice and Empowerment, Government of India), Department of Science & Technology, Ministry of Science & Technology, Government of India, Development Commissioner (Handicraft), Ministry of Textiles, Government of India etc. for Skilling Division.

Apart from Skill Development, MPCON has been engaged in various IT & ITES projects such as document management, digital evaluation for education institutes, Financial Inclusion activities for Banks and Manpower Outsourcing, Carbon Credit, Project Consultancy etc. for various Corporate and Government Departments.

ASSOCIATES- KITCO Ltd. (KITCO)

KITCO is one of the premier Engineering, Management & Project consultancy firm in India. Some of the other fields where KITCO is a prominent player are Energy Studies, Skill Certification and Placement Services.

The Company is also a dedicated provider of professional technical consultancy services to Small and Medium Enterprise (SME) sector. At present KITCO is having following
divisions viz. aviation, Infrastructure and Urban Planning, Tourism,
processing engineering etc.

JOINT VENTURE- IFCI Sycamore Capital Advisors Pvt. Ltd. (ISCAPL)

The Company has 50% interest in one joint venture viz. IFCI Sycamore Capital Advisors Pvt Ltd (ISCAPL) incorporated in India in November 2011 which is under voluntary liquidation and Official liquidator has been appointed.