Malaysian govt picks up 9% in IDFC for Rs 848 cr

Malaysian govt picks up 9% in IDFC for Rs 848 cr
Comment E-mail Print Share
First Published: Tue, Mar 13 2007. 12 07 PM IST
Updated: Tue, Mar 13 2007. 12 07 PM IST
PTI
Mumbai: The investment holding arm of Malaysian government, Khazanah Nasional Berhad has acquired 8.97% stake in Infrastructure Development Finance Company (IDFC), a specialised financial intermediary for infrastructure, for Rs848.16 crore.
In a block deal that got struck on 12 March, Khazanah Nasional Berhad on account of Sipadan Investments acquired around 10.09 crore shares at a price of Rs84 each from UBS Securities Asia who sold the shares on behalf of Mauritius based Swiss Finance Corporation, data available on the NSE shows.
Khazanah Nasional is the investment holding arm of the Malaysian Government entrusted to manage the commercial assets held by the Government and to undertake strategic investments.
As per the latest shareholding data available on the bourses, Swiss Finance Corporation previously held 10.13 crore shares representing 9% stake in IDFC.
Other foreign investors, who held significant stakes in IDFC, are Indivest Pte (3.79%), Nikko Cordial Corporation (2.49%), Morgan Stanley & Company International Ltd (3.62%), Goldman Sachs Investments (3.73%) and Barclays Capital Mauritius (4.96%).
The latest deal comes on the heels of Temasek Holdings, the Singapore government’s investment company, which sold its full 5.26% stake in healthcare major Apollo Hospitals Enterprise for Rs 133.68 crore a few days back.
Comment E-mail Print Share
First Published: Tue, Mar 13 2007. 12 07 PM IST