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| Exchange Disseminated Time | IL&FS Investment Managers Ltd has informed BSE that the Board of Directors of the Company at its meeting held on May 03, 2016, has approved the following :
1. The Company currently holds 51% shares in its subsidiary, IL&FS Asian Infrastructure Managers Limited (lAIML). The balance 49% shares are held by ORIX Corporation, Japan. The Board decided to acquire the balance 49% holding of ORIX Corporation, Japan i.e. 2,250,000 shares of lAIML at a price of Rs. 12.34 per share or for a total consideration of Rs. 27,765,000/-. This acquisition will make lAIML a 100% subsidiary of the Company. The transaction is being done at a price based on an Independent Valuation.
2. Amendment to the Articles of Association of the Company to adhere to the new Companies Act, 2013. |
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