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Mumbai June 26 Infrastructure Development Finance Company Ltd (IDFC) has decided to increase its equity stake in SSKI Securities to 66.67 per cent from 33.33 per cent earlier, the company informed the BSE.

SSKI is a privately held domestic corporate finance and institutional securities company based in Mumbai.

This is the first investment in any broking house by IDFC. Through this investment, IDFC and SSKI propose to work together by pooling their relationships and expertise to provide investment banking and capital markets solutions especially to infrastructure clients.

Competitive Landscape

During 2006-07, IDFC had acquired 33.33 per cent stake in SSKI Securities. "SSKI's corporate finance business is primarily focused on the infrastructure space. The SSKI investment is part of IDFC's strategy to diversify its revenue base, increase fee-based revenue streams and participate in all aspects of the value chain for an infrastructure client. The SSKI platform is expected to enhance equity capital markets product offering for IDFC.

IDFC rose 1.15 per cent to Rs 131.45 on Tuesday on the BSE.

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