Barclays Bank takes 4.7% stake in IDFC for Rs 380 cr
Barclays Bank PLC on Wednesday announced that it has acquired a 4.70% equity holding in Infrastructure Development Finance Company Ltd (IDFC) for Rs 380 crore.
Barclays Capital Mauritius Ltd has acquired over 4.25 crore shares of IDFC in two separate bulk deals through open market transactions.
Barclays Capital Mauritius Ltd is a registered foreign institutional investor and said the purchase is in the nature of an investment.
Barclays purchased 2.11 crore shares in a bulk deal at the Bombay Stock Exchange (BSE) at a price of Rs 71.94 per share, while it bought another 2.15 crore shares at a price of Rs 71.98 per share in a bulk deal at the National Stock Exchange (NSE).
HSBC Global Investments Funds, which held over 2.61 crore shares amounting to a 2.33% stake in IDFC at the end of the June quarter, sold 1.69 shares at a price of Rs 72 per share, taking the total deal value to about Rs 121 crore.
State Bank of India (SBI) sold another 2.05 crore shares at a price of Rs 72 per share, with a total deal value of Rs 148 crore, in another bulk deal at the NSE.
SBI held a 3.74% stake in IDFC with its holding of 4.2 crore shares as on June 30. Shares of IDFC closed about 1% higher at Rs.71.70 at the BSE
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