IFCI shares jump nearly 20% in five sessions; NSE IPO buzz lifts interest

Shares of state-owned NBFC IFCI Ltd continued their strong run, rising 8.12 per cent on Friday to close at Rs 60.69. With this, the stock has gained 19.85 per cent over the past five trading sessions.

A few market experts attribute the recent surge to IFCI's indirect exposure to the National Stock Exchange of India (NSE). IFCI holds a stake in NSE through its majority ownership of Stock Holding Corporation of India Ltd (SHCIL).

The strong upmove comes amid renewed focus on NSE's long-awaited initial public offering (IPO). Recent regulatory developments have brought the exchange closer to listing, sparking interest in NSE-linked and unlisted plays.

Capital markets regulator Sebi granted in-principle approval to NSE's application in the long-running unfair market access case, clearing a key regulatory hurdle for its listing. Separately, Sebi chairperson Tuhin Kanta Pandey said the government has approved a reduction in the minimum proportion of shares that large companies must offer to the public at listing to 2.5 per cent from 5 per cent. These steps have contributed to renewed interest in NSE’s unlisted shares.

Ravi Singh, Chief Research Officer at Mastertrust, said, "There has been a good momentum in IFCI over the last few weeks. It has some investment in NSE and NSE unlisted shares have shot up recently amid buzz over the exchange's much-anticipated IPO. With that being said, support on the counter will be at Rs 58, while immediate resistance will be at Rs 65. Investors should opt for a 'buy-on-dip' strategy."

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said IFCI's move could be linked to this development. "IFCI holds a stake in NSE and the ongoing uptick in its share price could be related to the upcoming IPO buzz surrounding the exchange," he said.

As of December 2025, the government held a 72.57 per cent stake in IFCI. NSE, India's largest stock exchange, has been working towards an IPO for several years. While regulatory and governance issues had delayed the listing earlier, recent clearances indicate progress in its efforts to reach the public markets.