Shares of IFCI climbed as much as 4% to Rs 101.60 on the BSE on Thursday, extending their rally into a second straight session and taking the stock’s two-day gains to more than 16% amid expectations that the long-awaited NSE IPO could be moving closer to launch.
IFCI owns more than a 50% stake in Stock Holding Corporation of India (SHCIL), which, in turn, holds over 4% of NSE. Through its controlling interest in SHCIL, IFCI enjoys indirect exposure to NSE, making its stock particularly sensitive to developments related to the exchange’s IPO.
