Govt approves IPO of ECGC and capital infusion of Rs 4,400 crore to ECGC

Govt approves IPO of ECGC and capital infusion of Rs 4,400 crore to ECGC

• The government of India has approved a capital infusion of Rs. 4,400 crore to ECGC Ltd for a period of five years, i.e. from FY 2021-2022 to FY 2025- 2026. ECGC Limited is a wholly-owned CPSE of the Government of India.
• The government has also approved the Initial Public Offer (IPO) on the Stock Exchange of ECGC Ltd.
• ECGC was set up with the objective of improving the competitiveness of the exports by providing Credit Risk Insurance and related services for exports. 

Points to remember:

1. Government to infuse what amount of capital in ECGC over next 5 years?
2. Gov holds what stake in ECGC?= 100%

Source: PIB (for capital infusion) ; PIB (for IPO)