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Singapore firm to buy stake in India Infoline
MUMBAI: India Infoline, has announced the proposed equity investment in the company of Rs. 555 crore ($191 million) by Orient Global, the Singapore-based investment group on a preferential basis, subject to approvals. Orient will acquire 3.7 million shares in India Infoline representing 6.48 per cent of the current equity capital. The board also noted a further proposed investment by Orient of $50 million (Rs. 197 crore) for a 10 per cent stake (post-money, fully diluted) in India Infoline’s insurance subsidiary, India Infoline Marketing Service Ltd. (IIMSL), the company informed the Bombay Stock Exchange. — Corporate Reporter
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