IFCI Limited has informed the Exchange regarding Cessation of Shri Umesh Kumar Garg as Non- Executive Independent Director of the company w.e.f. May 10, 2026.

IFCI · price

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-4.6%1-day move

₹64.39

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₹63.95

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AI summary

IFCI Limited has announced the cessation of Shri Umesh Kumar Garg as a Non-Executive Independent Director with effect from May 10, 2026. The departure was due to the natural completion of his tenure on May 9, 2026. This is a standard governance change notification under SEBI Listing Regulations. IFCI is a Government of India Undertaking (PSU) and the company has informed both NSE and BSE. The Company Secretary Priyanka Sharma signed the disclosure dated May 10, 2026.

Likely market impact

This is a routine board composition change due to tenure completion. No immediate impact on operations or stock price expected; the company will need to appoint a new independent director to fill the vacancy as per SEBI norms.