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From CNBC-TV18
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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 07, 15:30
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- Rs.197.80
1.00 0.51%- 86099
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- Rs.198.00
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