IFCI has acquired 49% equity shareholding in Rajasthan Consultancy Organization (Rajcon), an unlisted company, from one of its Associate Companies viz. Hardicon.

As a result of the said purchase of equity shares, IFCI's shareholding in Rajcon shall become 49% of the total paid-up equity capital and Rajcon shall become an Associate Company of IFCI as per section 2(6) of companies act, 2013, the company said.

Shares of the company declined Rs 0.40, or 0.95%, to settle at Rs 41.60 at the BSE (Tuesday).