Citigroup and DSP Merrill Lynch have bought over 7.2 per cent stake in Mumbai-broking firm India Infoline. Citigroup Global Mauritius has bought over 5 per cent for around Rs 50 crore ($11 million), DSP has purchased 2.2 per cent stake for nearly Rs 22 crore ($5 million). This values India Infoline at Rs 1,000 crore ($222 million).

Now about 13 per cent of equity in Infoline is now held by FIIs and mutual funds. Earlier, Templeton Mutual Fund had acquired 5 per cent in Infoline from the market. The mutual fund had invested around Rs 50 crore for the stake.

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Posted on 05/31/06, 11:58 PM
in: Main Page, Mergers & Acquisitions
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