Karrick Ltd and FIM Holding B Ltd to Invest in Indiabulls Infrastructure Development

Indiabulls Financial Services Ltd has informed BSE that Karrick Ltd and FIM Holding B Ltd will buy 13.33% equity in Indiabulls Infrastructure Development Ltd for a total consideration of Rs 447 crores. While Karrick Ltd will buy 3.33% equity in Indiabulls Infrastructure Development Ltd for a consideration of Rs 111.75 crores on behalf of Mr. LN Mittal, FIM Holding B Ltd, a wholly owned subsidiary of Farallon Funds and managed by Farallon Capital Management LLC based in San Francisco, USA will acquire 10.0% equity in Indiabulls Infrastructure Development Ltd for a consideration of Rs 335.25 crores.

Post the new investments, the shareholding of the Company in Indiabulls Infrastructure Development Ltd will decrease from 100% to 86.67% 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. 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.

Source : Equity Bulls

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