IDFC Bank buys 5% stake
NEW DELHI:
Private lender IDFC Bank today picked up a 5 per cent stake in financial
services major IIFL Holdings for over Rs 502 crore through an open market
transaction.
The shares were offloaded by Copthall Mauritius Investment.
According to
bulk deal data available with BSE, IDFC Bank purchased 15,853,000 shares,
amounting to 4.99 per cent stake, of IIFL Holdings.
The shares
were purchased on an average price of Rs 317 valuing the transaction at Rs
502.54 crore.
As of December
quarter, Copthall Mauritius Investment held 5.13 per cent in IIFL Holdings.
During
October-December of the current fiscal, IIFL Holdings reported a 62 per cent
jump in consolidated net profit at Rs 222 crore. It had posted a net profit of
Rs 137.2 crore in the year-ago period.
The company's
income rose 34 per cent to Rs 746 crore in the three months ended December
2016.
The stock of
IIFL Holdings today closed at Rs 322.90 on BSE, 2.23 per cent higher from the
previous close.
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