Government plans to sell two IFCI subsidiaries: Report Established in 1948 as a statutory corporation, IFCI currently has subsidiaries and one associate under its fold. (Image: Twitter @IFCI_LTD) The government is planning to sell subsidiaries of IFCI to infuse money into the non-banking lender. FCI has been riddled with soured assets. Its net non-performing assets-to-advances ratio was 42.7 percent as of March, against 31.8 percent a year ago, according to the lender's annual report. The government is not keen on infusing funds into IFCI, and plans to unlock value created by its subsidiaries -- Stock Holding Corporation of India and IFCI Infrastructure Development, Business Standard reported, citing a senior government official.