Kolkata, Oct 11: IFCI Ltd said today it has decided to exercise the call option and redeem IFCI Family Bonds - millionaire and gift bonds - issued by it in 1996 in order to consolidate financial position and to bridge the liquidity gap. The decision was taken after the central government provided financial support to the company to meet the outstanding liability of its retail investors, a IFCI release said here, quoting IFCI's general manager A K Das.

IFCI was exercising the call option as per the terms of the prospectus and as authorised by the bondholders at the meetings held on June 25 last, it said.
He said these bonds would be redeemed on December six, 2003. Bureau Report