New Delhi: IFCI Factors Limited (“Company”) has filed a Draft Red Herring Prospectus (“DRHP”) with SEBI for an initial public offering (“IPO”) on July 28, 2011.

The Company proposes to make a public issue of 39,086,628 equity shares of Rs. 10 each (the “Equity Shares”) for cash at price to be discovered through a 100% book building process (the “Issue”). The Issue will constitute 33% of the post Issue paid up share capital of the Company.

Up to 50% of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that the Company may allocate up to 30% of the QIB Portion, to Anchor Investors, on a discretionary basis (the “Anchor Investor Portion”). Further 5% of the QIB Portion (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only. The remainder shall be available for allocation on a proportionate basis to QIBs and Mutual Funds, subject to valid Bids being received from them at or above the Issue Price. Further, not less than 15% of the Issue will be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Issue will be available for allocation on a proportionate basis to Retail Individual Bidders, subject to valid Bids being received at or above the Issue Price. Retail Individual Bidders may participate in this Issue through the ASBA process by providing the details of the relevant ASBA Accounts in which the corresponding Bid Amounts will be blocked by the Self Certified Syndicate Banks (“SCSBs”). QIBs and Non-Institutional Investors can participate in the Issue only through the ASBA process. Anchor Investors are not permitted to participate in this Issue through the ASBA process.

The Book Running Lead Manager to the Issue is Enam Securities Private Limited.

The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Limited (“BSE”) and the National Stock Exchange of India Limited (“NSE”) subject to receipt of necessary approvals.