IL&FS Investsmart announces Post Offer Status

SBI Capital Markets Ltd ("Manager to the Offer"), on behalf of E*TRADE Mauritius Ltd ("Acquirer") along with E*TRADE Financial Corporation and Converging Arrows Inc (Persons Acting in Concert's ("PACs") has issued this Post Offer Public Announcement to the equity shareholders of IL&FS Investsmart Ltd ("Target Company"), which is in continuation of & should be read in conjunction with (a) Public Announcement ("PA") issued on October 09, 2006, pursuant to and in compliance with among other the Regulations 10 & 12 of Securities & Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997 ("Regulations"), (b) the Letter of Offer dated January 17, 2007 and (c) Corrigendum to the Public Announcement dated January 22, 2007 & February 06, 2007, to acquire up to 13,861,508 equity shares of Rs 10/- each, representing 20% of the fully paid equity capital of the Target Company at a price of Rs 210/- per equity share. Additionally the interest of Rs 3.16/- per equity share has been paid for delay in commencement of Offer.

The details are as follows:

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Item				Proposed in the 		Actuals				
				offer document
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1. Offer Price			Rs 210 				Rs 210 
2. Share acquired in the	13,861,508 (20%) 		3,408,638 (4.92%)   
open offer
3. Post offer Shareholding	41,078,562 (59.27%) 		30,625,692 (44.19%)   
of Acquirer and PACs
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Source : Equity Bulls

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