IL&FS Fin buys 14.5% stake in Maytas Infra

IL&FS Financial Services has acquired 14.5 per cent stake in Maytas Infra, promoted by former Satyam chairman B Ramalinga Raju's kin, through invocation of pledge and off-market transactions.

In a disclosure to the Bombay Stock Exchange, Maytas Infra said IL&FS has acquired 56.53 lakh shares representing 9.61 per cent stake in the company following invocation of pledge.

In a separate filing to the National Stock Exchange, Maytas Infra said IL&FS has also acquired 28,79,999 shares representing 4.89 per cent stake in the company through off-market transfer.

IL&FS had acquired 28.79 lakh shares of Maytas Infra on March 26 by way of off-market transfer from Investsmart Financial Services Ltd, the filing said.

Following the said transfer, IL&FS Fin Serv's holding in Maytas Infra has gone up to 14.5 per cent, it added.

As on December 31, Sicom Ltd held 6.97 per cent stake, while Citigroup Global Markets (Mauritius) held 1.70 per cent stake in Maytas Infra.

Shares of Maytas Infra closed at Rs 34.55, up 1.47 per cent on the BSE.