Financial institution IFCI is likely to raise up to Rs 700 crore from bonds, to meet its business growth plan.  
 
The company intends to raise Rs 500-700 crore from the domestic market, in the second quarter of 2009-10, which would be utilized for facilitating business growth.

A company official familiar with the latest move informed that the resources would not be raised through the stock market but through private placement or preference shares.  

He further added that IFCI has comfortable liquidity with capital adequacy ratio of over 19 per cent against the regulatory requirement of 10 per cent.  

The scrip of the company today settled the day at Rs 26.55 on NSE, down 2.39 per cent compared to previous close of Rs 27.20.