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IDFC shines as its real estate arm plans to mop up $500 million

19 Jun 2012 Evaluate

Infrastructure Development Finance Company (IDFC) is currently trading at Rs. 128.10, up by 0.40 points or 0.31% from its previous closing of Rs. 127.70 on the BSE.

The scrip opened at Rs. 127.30 and has touched a high and low of Rs. 128.75 and Rs. 125.10 respectively. So far 8348396 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 160.80 on 17-Feb-2012 and a 52 week low of Rs. 90.25 on 02-Jan-2012.

Last one week high and low of the scrip stood at Rs. 136.45 and Rs. 126.35 respectively. The current market cap of the company is Rs. 19299.07 crore.

The Institutions and Non-Institutions held 83.24% and 16.76% stake in the company, respectively.

IDFC Real Estate Investments, subsidiary of Infrastructure Development Finance Company (IDFC) is reportedly planning to raise $500 million through private equity (PE) fund and will invest in leased-out commercial assets.

Further, IDFC is looking to develop a portfolio of commercial projects with the help of its balance sheet, and then selling the same to investors worldwide, to participate in the fund.

At present, nearly 15 real estate-focused private equity funds are looking forward to mop-up around $4 billion from domestic as well as global investors. This PE fund includes Redfort Capital, Indiareit, ASK, Morgan Stanley, Walton Street and Sun Apollo.

IDFC Group posted growth of 16.79% in its Q4FY12’s net profit after tax, Minority Interest and Share of Profit of associates of Rs 334.83 crore as compared to Rs 286.68 crore for the quarter ended March 31, 2011. Total Income increased by 31.72% to Rs 1721.11 crore for the quarter from Rs 1306.65 crore for similar quarter of FY11.

IDFC-(Amalgamated) Share Price

108.00 0.00 (0.00%)
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