See topline under pressure in FY10: IFCI
June 22nd, 2009
Atul Kumar Rai, CEO and MD, IFCI, said the company had never abandoned the stake sales discussions. “The government had options to convert loans into equity and that would not have been acceptable, as we were looking for a strategic investor. So the government has sought a clear offer from us. We will go back to the government with the offer,” he said.
Rai added that the capital adequacy ratio was at over 20%. “There is no need for additional capital currently,” he added.
He said the company created Rs 3000 crore worth of fresh assets in 2008-09. “We may face pressure on our topline once existing assets reach maturity,’ he added.