IFCI may rope in strategic investor for factoring arm.

IFCI Limited, the government-owned finance company, plans to rope in a strategic investor for its factoring subsidiary, IFCI Factors Limited, to give the latter a new lease of life.

Top executive of IFCI said the non-banking finance company would look at giving 26-27 per cent stake in the subsidiary to the prospective investor. These were initial thoughts and there was no specific deadline set for a decision, he said.

The performance of the factoring subsidiary was adversely impacted by the long spell of economic slowdown, he added.

BS