Industrial Finance Corporation of India
IFCI Tower, 61 Nehru Place, New Delhi, Delhi, 110019, India
Overview
At the time of independence in 1947, India's capital market was relatively under-developed. Although there was significant demand for new capital, there was a dearth of providers. Merchant bankers and underwriting firms were almost non-existent and commercial banks were not equipped to provide long-term industrial finance in any significant manner. It is against this backdrop that the government established The Industrial Finance Corporation of India (IFCI) on July 1, 1948, as the first Development Financial Institution in the country to cater to the long-term finance needs of the industrial sector. The newly-established DFI was provided access to low-cost funds through the central bank's Statutory Liquidity Ratio or SLR which in turn enabled it to provide loans and advances to corporate borrowers at concessional rates.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 2
Sector focus
- Finance
- Financial Services
Investment portfolio
- Inknibs
Participated · Seed · Mar 2024
Inknibs is a hyperlocal marketplace that sells books, stationery, and toys. The platform connects customers with local vendors and provides a tailored selection of products. Founded by Divyanshu Solanki with assistance from Prajjwal Sinha and Apail Kapoor, the company has produced school necessities for more than six years and has recently entered the online marketplace. It offers sixty-minute delivery in Noida, Greater Noida and Crossing Republic (Ghaziabad). Inknibs raised Rs 72.5 lakh in a pre-seed round to improve its platform, streamline operations, and strengthen its position in the e-commerce market. Investors in the round included angel investors Sakshi Aswal and Arcchit Agarwal, Amity Technology Incubator, Industrial Finance Corporation of India (IFCI), and JSSATE STEP Incubator.