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IFCI to divest stake in Hardicon

IFCI Ltd. said its board approved the divestment of its entire 45.50% stake in Hardicon Ltd.

The company owns 4,550 equity shares with a face value of 100 Indian rupees each in Hardicon.

Hardicon is a nonlisted associate company of IFCI.

As of Jan. 20, US$1 was equivalent to 68.06 Indian rupees.