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Moneycontrol India :: News :: HSBC to acquire 73.21% stake in IL&FS Investmart :: IL&FS Investsmart :: Business :: IL&FS Investmart,HSBC
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HSBC to acquire 73.21% stake in IL&FS Investmart
2008-05-17 12:13:34 Source : News Bulletins/CNBC-TV18
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HSBC plans to make an acquisition through its group subsidiaries, HSBC Securities and Capital Markets (India). It will acquire 73.21% stake in IL&FS Investmart at Rs 200 per share for USD 241.6 million.  

HSBC will pay IL&FS USD 19.4 million or Rs 82 crore as a part of three-year non-compete agreement.

HSBC will also make open offer to acquire up to 20% remaining shares in IL&FS Investsmart.

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  • Jul 18, 17:30
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