Barclays buys 4.7% in IDFC for Rs 380 cr

UK's Barclays Bank is on an investment spree in Indian financial services providers. It now has acquired a 4.7 per cent stake in Infrastructure Development Finance Corporation (IDFC) for Rs 380 crore.

This acquisition includes purchase of 2.11 crore shares (about 1.87 per cent) of IDFC for Rs 151.7 crore in a bulk deal on the National Stock Exchange.

Barclays' investment arm, Barclays Capital Mauritius, has acquired the stake in IDFC.

Barclays Bank, in a statement, said the stake was acquired through secondary market operations and it is in the nature of investment into India's largest infrastructure finance company.

Barclays also holds 4.95 per cent stake in UTI Bank and 9 per cent in Asset Reconstruction Company India Ltd (ARCIL). It has also bid for nearly 5 per cent stake in Development Credit Bank during its initial public offer, which closed on October 6.

IDFC shares closed at Rs 72 on the National Stock Exchange today, up from yesterday's close of Rs 71.05.