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Housing Development Finance Corporation Ltd (HDFC) has acquired 9.9 per cent stake in Kerala Infrastructure Fund Management Ltd.
“...the Corporation has today invested in 3,88,303 equity shares of Rs 10 each of Kerala Infrastructure Fund Management Limited representing 9.9 per cent of its share capital issued on a private placement basis,” HDFC said in a regulatory filing on Monday.
The cost of acquisition is at par, that is at a face value of Rs 10 per share.
The indicative period for the completion of the acquisition is one month, it further said, adding that the transaction was through cash consideration.
Set up in November 2018, Kerala Infrastructure Fund Management Ltd was promoted by the Kerala Infrastructure Investment Fund Board (KIIFB) to manage Kerala Infrastructure Fund. It acts as an asset management company.
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