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About Us

Our History

IFCI Financial Services Ltd (IFIN) was promoted in 1995, by IFCI Ltd., to provide a wide range of financial products and services to investors, institutional and retail. IFIN is primarily involved in Stock Broking, Investment Banking, Mutual Fund Distribution & Advisory Services, Depository Participant Services, Insurance Products Distribution and the like.

IFIN is positioned as a global financial supermarket, built on the foundations of incisive research and trust. Intense interaction with investors helps us understand their specific needs and suggest holistic and appropriate financial solutions. Our team of professionals continuously scan the financial arena and stay ever prepared to educate investors and partner them in creating enduring wealth.

IFCI Limited, Our legendary parent Institution

The Government of India established The Industrial Finance Corporation of India (IFCI) on July 1, 1948, as India’s first and premier Development Financial Institution, to cater to the long – term financial needs of the industrial sector

By the early 1990s, with the need for greater flexibility to respond to the changing financial system, IFCI was mandated to directly access the capital markets for its fund needs. Therefore, the constitution of IFCI was changed in 1993 from a statutory Corporation to a Company under the Indian Companies Act, 1956. The name of the Company itself was changed to “IFCI Limited” with effect from October 1999.

IFCI has achieved a financial turnaround with the consistent support and cooperation of all its stakeholders and is now endeavoring to re-position itself. In addition to its core competence in long-term lending to industrial and infrastructure sectors, IFCI is also enhancing its organizational value through better realization of its Non-performing Assets (NPAs) and unlocking of value of its investment portfolio including unquoted investments as well as real estate assets.

Board of Directors

IFIN has well experienced, committed and qualified professionals in various facets of the financial landscape to provide unmatched services to its diverse clientele.The team is being strengthened to lend support to the new areas into which IFIN is embarking.

Smt S. Karpagam - Managing

Smt S. Karpagam, a Graduate member of the Institute of Cost and Work Accountants of India and is also a Bachelor of Commerce from University of Madras. She has a rich and vast experience of 27 plus years in Business Development, Operations, Finance, Audit and Administration. She is deputed from Stockholding Corporation of India Limited to IFCI Financial Services Limited as Managing Director with effect from 03.10.2022. Prior to this, she was working as Regional Manager in Stock Holding Corporation of India Limited.

Shri Alan Savio Pacheco
Nominee Director

Shri Alan Savio pacheco is a post graduate in Management with over 14 years’ experience in Venture Capital, Corporate Advisory, Corporate Lending and Underwriting & Syndication for Infrastructure Projects. Shri Alan S Pacheco has extensive experience in business development, deal evaluation and structuring of equity and quasi equity investments, credit appraisal, resolution of stressed assets, recovery from NPAs and divestment of unquoted equity investments.
Shri Alan is Deputy General Manager in IFCI Limited since 2016 and is presently in the office of the Deputy Managing Director of IFCI Limited. Prior to that worked with IFCI Venture Capital Fund Limited and has represented IFCI on the Credit Committee of IFCI Factors Limited and has also headed IFCI’s Ahmedabad Regional Office.
Nominated on the Board of Gujarat Industrial and Technical Consultancy Organisation Limited (GITCO) and on the Investment Committee of Golden Gujarat Growth Fund-1 (managed by GVFL Limited) in addition to the boards of various investees companies of IFCI Limited.

Shri Rajesh Kumar

Shri Rajesh Kumar is a Ex Senior Banker with global experience and proven track record of leading large teams to successfully achieve targets. He joined State Bank of India (SBI) as a Probationary Officer in 1985 and retired in June 2020 as Chief General Manager of Bhopal Circle, where he was heading Bank’s business operations for M.P. and Chattisgarh. He had handled various assignments in Retail Banking, Trade Finance, Large value Loans as well as IT and Digital, with demonstrated analytical skills, decision making, achieving business and operational goals. He handled overseas assignments in Antwerp and Frankfurt. He is a passionate practitioner for digital transformation, having conceived and launched many apps including the SBI flagship YONO app.

Mr. Ramesh Dharmaji

Shri Ramesh Dharmaji is a post graduate in Commerce and CAIIB with over 38 years of experience in banking industry, headed all major business verticals. Founding Director of SIDBI International MSME Training Institute. Served as Director on Boards of MSMEs/ infrastructure companies, Microfinance Institutions, State Financial Corporations, Venture Capital Companies, Technical Consultancy organisations, Sadhan a MFI SRO.

Shri AtulSaxena
Nominee Director(Chairman)

Shri Atul Saxena has more than 20 years of rich and diverse experience in Technical and Management Consultancy of Infrastructure sector projects, Project Management and Contract Administration of Oil & Gas sector projects and Corporate Credit functions including Project & Structured Finance and NPA Recovery. At present, he is General Manager and one of the Principal Officers of IFCI Limited.
Presently he heads Corporate Planning Department and has also been designated as Secretary to the Board of IFCI Limited. Earlier, he had headed South Zone Office, Chandigarh Regional Office and Hyderabad Regional Office of IFCI. He had also headed various departments of IFCI such as Credit Departments, Corporate Advisory etc. Prior to joining IFCI, he had worked with Engineers India Limited and PwC. He holds a degree in Civil Engineering from IIT Kanpur and PG Diploma in Management from IIM Calcutta..

Shri Sanjay Pundalik Pote

Mr. Sanjay Pote is the MD and CEO of Stockholding Services Ltd, a SEBI registered Brokerage Firm, with over 24 years of venerable experience in financial Service. Mr. Sanjay is a sales and business development enthusiast. He successfully helped to soft-launch India's first Robo advisory service. His specialties range from Wealth Management to Client Relationship Management. He has held senior Positions in Asit C Mehta Financial Services Ltd, IDBI Capital, SBICAP Securities, and Stockholding Corporation of India Limited. Currently he is on deputation to Stockholding Services Limited, Stockholding Group Company. Mr. Sanjay Pote, A MBA and Graduate and fellow member of Institute of Directors.

Our Subsidiaries

IFIN Securities Finance Ltd, a Non Banking Financial Company is primarily engaged in the business of margin funding, providing loan against shares & property, promoter funding etc., to various clients. It emphasizes on providing timely and quality services to clients, which acts as a competitive advantage to win over clients and establish superiority over competitors.


IFIN Commodities Ltd, a registered member of the Multi Commodity Exchange of India Ltd (MCX), National Commodity and Derivatives Exchange Ltd (NCDEX) and National Spot Exchange Limited (NSEL), is primarily engaged in the business of providing Commodity market related transaction services.

IFIN Credit Ltd is not engaged in any major business activity. The surplus fund has been placed as fixed deposit.

Annual Report

Membership & Registrations

The National Stock Exchange of India Limited (NSE)

The National Stock Exchange of India Limited (NSE)

IFIN is a premier broking house and is currently a member of NSE in all the segments - Cash Market (CM), Futures & Options (F&O), Whole Sale Debt Market (WDM) and Currency Derivatives. It caters to many prestigious institutional clients in the insurance, mutual funds and banking segments as well as Retail Individual and HNI segments.

The Bombay Stock Exchange of India Limited (BSE)

The Bombay Stock Exchange of India Limited (BSE)

IFIN is a member of one of the oldest stock exchanges in India, namely the BSE, in the Cash Market (CM) segment.

Depository Participant

Depository Participant

As a Depository Participant with the National Security Depository Limited (NSDL) and Central Depository Participant Limited (CDSL), IFIN serves its clients in a wholesome fashion.

Mutual Funds Distribution

Mutual Funds Distribution

Registered with the Association of Mutual Funds in India (AMFI) as a distributor of Mutual Fund products, IFIN has been highly active and very successful in the distribution of various mutual fund products.

Insurance Corporate Agent

Insurance Corporate Agent

IFIN is an IRDA approved Corporate Agent (CA) for both Life and Non-life Insurance sectors. It is empanelled with LIC for Life Insurance and Bajaj Allianz for the Non-Life Insurance sector.

Portfolio Management Services

Portfolio Management Services

As a SEBI registered Portfolio Manager, we offer Discretionary Portfolio Management Services backed by Equity Research - Fundamental and Technical.

Merchant Banking

Merchant Banking

As a SEBI approved Category I Merchant Banker, IFIN is involved in the capital raising exercises of Indian Corporates.

Senior Management

S.NO Name of the Individual Designation Mobile/Landline Number Email Id
1 Mrs. S Karpagam Managing Director 044-28306699 karpagam@ifinltd.in
2 Mr. A V Pushparaj Chief Financial Officer (CFO) 044-28306639 pushparajav@ifinltd.in
3 Mr. Yuvarajan T Compliance officer 044-28306619 yuvarajan@ifinltd.in
4 JM Sathyavathi Company Secretary 044-28306613 sathyavathi@ifinltd.in
5 Mr. Ramkumar S Chief Operating Officer (COO) 9841294910 ram@ifinltd.in
6 Mr. Anil Kumar National Sales Head 9845014886 anilkumarbs@ifinltd.in
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