<h1>Indian Government Converts OCDs to Equity in IFCI, Boosting Stake to 55.57% and Ensuring Control.</h1> The Union Cabinet approved converting Rs.923 crore of Optionally Convertible Debentures (OCDs) held by the Indian government in IFCI into equity, increasing the government's stake to 55.57% and, combined with banks and financial institutions, to 68.31%, thus making IFCI a government company. This move aligns with a 1992 Cabinet decision to maintain government control over IFCI. The conversion follows past financial assistance and restructuring efforts due to IFCI's financial challenges. A Committee of Secretaries recommended the conversion without requiring an open offer, seeking exemption from SEBI regulations.