Malaysian government's investment arm picks up 9 per cent in IDFC

Mumbai: Khazanah Nasional Berhad, the investment holding arm of Malaysian government, has acquired 8.97 per cent stake in Infrastructure Development Finance Company (IDFC) for Rs848.15 crore.

Khazanah Nasional Berhad on account of Sipadan Investments acquired around 10.09 crore shares of the specialised financial intermediary for infrastructure in a block deal at a price of Rs84 a share.

UBS Securities Asia sold the shares on behalf of Mauritius-based Swiss Finance Corporation, data available on the NSE showed. The UBS arm had picked up IDFC shares over the last one year and held nearly 10.4 crore shares in January.

Incorporated in 1993 as a public limited company, Khazanah Nasional, which is entrusted with the management of commercial assets held by the Malaysian government, undertakes strategic investment decisions.

Latest shareholding data available on the bourses show Swiss Finance Corporation previously held 10.13 crore shares, representing 9 per cent stake in IDFC.

Other foreign investors, who held significant stakes in IDFC, are Indivest Pte (3.79 per cent), Nikko Cordial Corporation (2.49 per cent), Morgan Stanley & Company International Ltd (3.62 per cent), Goldman Sachs Investments (3.73 per cent) and Barclays Capital Mauritius (4.96 per cent).