IL&FS Financial Buys Pledged Shares: Hikes Stake In Era Infra
IL&FS Financial Services Limited, in a BSE filing, said that it has acquired over 1.5 Cr shares of Era Infra Engineering Limited through a pledge creation.
IL&FS is a non-promoting entity and it held 6.6% stake. The acquisition increases its holding to 14.86% and the total shares held reaches 2.7 Cr.
Era Infra's stock price was around R137-138 during the pledge creation.
Era Infra Engineering is an infrastructure company with three business divisions (EPC, EPC & BOT and EMC) and two fully-owned subsidiaries.
It is currently executing six road projects through SPVs constituting a mix of annuity and toll based projects.
IL&FS Financial Services is a 100% subsidiary of IL&FS having a combination of services in its portfolio of investment banking including debt syndication, corporate advisory and lending capabilities.
Among the large infra players, recently R Infra was planning to cut stake in two mega transmission BOT projects and the promoter group entities of IRB Infra Developers cut down their stake by selling 1.2 Cr shares through the open market.
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|Era Infra Engineering Limited||Era Housing And Developers (India) Limited||370-371/2, Sahi Hospital Road, Jungpura||
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|IL&FS Financial Services Limited||Infrastructure Leasing & Financial Services Limited||IL & FS Financial Centre, Plot No C-22 G Block, Bandra Kurla Complex, Bandra E||www.ilfsindia.com/IFIN.aspx?id=101&cid=4&prid=3|