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India Securities’ arm to sell its entire stake in Vodafone Essar to Vodafone

04 Jul 2011 Evaluate

ETHL Communications Holdings, a wholly owned subsidiary of India Securities has entered into definitive agreement for sale of entire 10.97% stake in Vodafone Essar to Vodafone at a consideration of $1.26 billion. The sale will be consummated by February 15, 2012.

India Securities is promoted by Essar (Ruia) group and is a subsidiary of Essar Investments. It is into the business of finance, corporate advisory services, project finance, intermediation services project money and foreign exchange markets.

Peers
Company Name CMP
Bajaj Finance 1039.50
Shriram Finance 1025.45
Aditya Birla Capital 392.70
Chola Invest & Fin. 1717.90
Tata Capital 341.30
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