Institutions, who were unwilling to touch IFCI with a barge poll even a few years ago, now want to buy a stake in the company. Soon it will be clear whether such interests are genuine, or the hype around the scrip is only to help some operators who have built up positions to make a killing. The latest buzz is that the US-based hedge fund DE Shaw has joined the race for acquiring a strategic stake in IFCI, India’s oldest state-owned financial institution. DE Shaw, with assets worth over $30 billion, is believed to have put in bids in response to IFCI’s decision to sell a 26% stake in favour of strategic investors, said sources. When contacted by ET, DE Shaw country head Anil Chawla said: “I do not comment on my investments.” Apart from DE Shaw, a host of other leading investors are also reportedly contending for the IFCI pie. Blackstone, Citigroup, Barclays and Standard Chartered Bank figure prominently among the possible foreign suitors. Besides some of IFCI’s investments which have grown in value, the stock is thriving on the story that there is a real estate play underlying several dud loans of IFCI.   more »