28 Mar 2009, ET Bureau
MUMBAI: IL&FS Financial Services has acquired a14.5% stake in Maytas Infra, promoted by former Satyam chairman B Ramalinga Raju’s kin, through invocation of pledge and off-market transactions.
In a disclosure to BSE, Maytas Infra said IL&FS acquired 56.53 lakh shares representing 9.61% in the company, following invocation of pledge. In a separate filing to NSE, Maytas Infra said IL&FS also acquired 28,79,999 shares representing 4.89% in the firm through off-market transfer. IL&FS had acquired 28.79 lakh Maytas Infra shares on March 26 via off-market transfer from Investsmart Financial.
Following the said transfer, IL&FS Fin Serv’s holding in Maytas Infra has gone up to 14.5%, it added.
The rising global interest rate outlook may have jolted the country’s stock markets, but Indian investors have recorded a sharp rise in the returns on their overseas investments. Investment income has more than doubled in the last five years. According to the latest balance of payment.
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