IFCI Limited, a public sector non-banking financial company, saw its shares jump 7.19% to Rs 60.69 on Monday, reaching their highest level since July 25. The stock later pared some gains to trade 6.06% higher at Rs 60.05.

AGM Announcement

The company has announced its 32nd Annual General Meeting (AGM) scheduled for October 29, 2025, at 11:30 a.m. through audiovisual means. Key dates related to the AGM include:

• Remote e-voting period: October 26-28, 2025
• Book closure: October 23-29, 2025
• Cut-off date for voting rights: October 22, 2025

Stock Performance

IFCI's stock performance has been noteworthy:

The recent surge comes after a two-day losing streak and without any apparent fundamental trigger.

Company Background

Established in 1948, IFCI operates as a public sector non-banking financial company. It has six subsidiaries and one associate, providing financial support to various industrial projects, including Adani Mundra Ports and GMR Goa International.

Investor Participation

Shareholders can participate in the AGM through video conferencing or other audio-visual means. The company has provided detailed instructions for e-voting and attending the virtual meeting in its notice to shareholders.

IFCI's move to conduct the AGM virtually aligns with the ongoing trend of digital shareholder engagement, ensuring wider participation while adhering to corporate governance norms.

Investors and market participants will be keenly watching the AGM for any strategic announcements or updates on the company's future plans and financial outlook.

IFCI Limited , a government-owned development finance institution, has announced the appointment of Shri Rajeev Sachdev as an Additional Director (Non-Executive-Non-Independent) to its Board of Directors, effective August 25, 2025. This strategic move brings a wealth of experience in the insurance and financial services sector to IFCI's leadership team.

Extensive Experience in Financial Services

Rajeev Sachdev, who holds a B.Sc. in Physics, brings over 37 years of experience to his new role at IFCI Limited. His career journey began on February 22, 1998, when he joined Life Insurance Corporation of India (LIC) as a 16th Batch Direct Recruit Officer. Throughout his tenure, Sachdev has held key positions across various departments, demonstrating a comprehensive understanding of the insurance industry and other financial products, including housing finance and credit cards.

Diverse Roles and Responsibilities

Sachdev's career has been marked by diverse experiences across India. He has worked in various capacities at branch, divisional, and zonal offices, as well as at the corporate office of LIC. His professional journey also includes stints with LIC Housing Finance Limited, an associate of LIC, and as an Insurance Ombudsman, further broadening his expertise in the financial sector.

Current Leadership Role

Prior to joining IFCI's board, Sachdev has been serving as the Director and Chief Executive of LIC Cards Services Limited, a wholly-owned subsidiary of LIC of India. This position underscores his leadership capabilities and strategic vision in the financial services domain.

Contribution to IFCI's Board

IFCI Limited's decision to appoint Sachdev to its board aligns with its commitment to strengthening its leadership with experienced professionals. His extensive background in insurance, housing finance, and credit services is expected to bring valuable insights to IFCI's operations and strategic direction.

Regulatory Compliance

In compliance with regulatory requirements, IFCI Limited has confirmed that Rajeev Sachdev is not debarred from holding the office of Director by any SEBI order or any other authority. Additionally, the company has stated that Sachdev is not related to any existing member of IFCI's Board of Directors, ensuring independence in his role.

The appointment of Rajeev Sachdev as an Additional Director marks a significant addition to IFCI Limited's board, potentially enhancing the company's expertise in navigating the complex landscape of development finance and related financial services.