By

The Infrastructure Fund of India LLC, earlier Henderson India Infrastructure Fund, has picked up warrants worth Rs 8.36 crore in Gati Ltd. The private equity fund has bought 1.4 million warrants at Rs 56 in Gati, which will be convertible into one equity share within 18 months, the company said in a filing with BSE.

The Infrastructure Fund of India already holds a 12.34% stake in the courier service provider, which it bought in 2006. The present transaction is subject to approval from the shareholders and Foreign Investment Promotion Board (FIPB), the nodal body for clearing foreign investment into India. The shares of Gati were up by more than 2% today morning, hitting the day's high at Rs 60.30.

Additionally, the promoters of the firm have also subscribed to 4.87 million warrants convertible at Rs 81 each and 5.36 million warrants convertible at Rs 58 each.

Leave Your Comment(s)