The acquisition of crisis-hit Maytas Infra Limited is going to cost about Rs 330 crore to infrastructure major IL&FS. This includes Rs 200 crore lent to the family of Satyam Computer Services, founder B Ramalinga Raju in lieu of the pledged shares and Rs 130 crore for acquiring a 20 per cent stake in the company through an open offer to be announced within a period of three weeks.
This apart, IL&FS, which replaced the Raju family as promoters of Maytas Infra, will pump in Rs 55 crore to revive the company, which is facing a liquidity crunch.
Raju’s family has pledged 37.1 per cent shares of Maytas with IL&FS. Of this, IL&FS foreclosed its rights on 14.5 per cent shares in March, this year. It has been allowed to foreclose its rights on the remaining 22.6 per cent pledged shares leading to a change in ownership of Maytas.
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