Karrick, FIM Holding to buy 13.33 pc equity in Indiabulls subsy

New Delhi, Nov 30 (UNI) Indiabulls Financial Services Ltd today said Karrick Ltd and FIM Holding B Ltd will buy 13.33 per cent equity stake in Indiabulls Infrastructure Development Ltd for a total sum of Rs 447 crore.

While Karrick Ltd will buy 3.33 per cent equity in the company for Rs 111.75 crore on behalf of Mr L N Mittal, FIM Holding B Ltd, a wholly-owned subsidiary of San Francisco-based Farallon Funds and managed by Farallon Capital Management LLC will acquire 10 per cent equity in it for Rs 335.25 crore.

After the fresh investments, the shareholding of the parent company in Indiabulls Infrastructure Development Ltd will decrease from 100 per cent to 86.67 per cent due to the issuance of new common shares.

Karrick Ltd will he allotted a total of 25,00,000 shares at a premium of Rs 437 per share for a Rs 10 paid up share, while FIM Holding B Ltd will be allotted a total of 75,00,000 shares at a premium of Rs 437 per share for a Rs 10 paid up share.

UNI SRS DKS RS1902