*Infrastructure Leasing and Financial Servcices Ltd* plans to raise around $300 mn through sale of existing and fresh equity shares.
IL&FS will sell a portion of its employee welfare trust holding and dilute 10% equity by issuing new shares. The stake sale may allow the NBFC to meet the capital adequacy norms of the RBI. A recent valuation had pegged the price of IL&FS shares at Rs1,000-1,100 apiece. NBFCs are required to have a capital adequacy ratio, a measure of financial strength expressed as the ratio of capital to risk-weighted assets, of 15% under RBI norms. <http://www.livemint.com/2010/04/18225357/ILampFS-plans-stake-sale-to.html?h=B> Transaction Note Infrastructure Leasing & Financial Services Limited, founded in 1987, is an infrastructure development and finance company. IL&FS was initially promoted by *Central Bank of India, Housing Development Finance Corp. Ltd* and the erstwhile *Unit Trust of India*. Currently, Its main shareholders are *LIC of India*, with 25.25% stake, and*Orix Corp *., with 23.05% stake. *HDFC *and *Abu Dhabi Investment Authority* own 12.68% and 12.32% of IL&FS, respectively. According to Mint, Companies such as IL&FS are seeking to capitalize on India’s increasing infrastructure requirements. Last week,* GMR Group*, an infrastructure firm with interests in airport management and electricity generation, raised $315 mn through QIP. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
