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Our Bureau

Mumbai, Oct. 11

Barclays Bank PLC has acquired 4.70 per cent equity in Infrastructure Development Finance Company Limited (IDFC) for Rs 380 crore. The equity stake was acquired through Barclays Capital Mauritius Ltd, a registered foreign institutional investor, via secondary market purchases and is in the nature of an investment. The total amount invested was approximately £44.8 million.

Mr Robert Morrice, Chairman and Chief Executive, Barclays Asia-Pacific, quoted in a press released: "Our stake in IDFC underlines our interest in the fast-growing infrastructure sector in India and allows us to participate through an investment in the largest infrastructure finance company in India. We believe India presents us with tremendous opportunities and this investment further evidences our desire to be part of the India growth story."

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