IL&FS Investment Managers, a subsidiary of Infrastructure Leasing & Financial Services (IL&FS), announced that the company has decided to acquire shares of IL&FS Infra Asset Management and IL&FS AMC Trustee.

The company is acquiring shares as part of its intention to acquire the IL&FS Infrastructure Debt Fund (IDF) business from IL&FS Financial Services.

IL&FS Infra Asset Management is the asset management company and IL&FS AMC Trustee is the Trustee to IL&FS Infrastructure Debt Fund.

IL&FS Investment Managers will acquire IL&FS Infra Asset Management at a price of Rs 10.63 a share of face value of Rs 10 each amounting to Rs 178.58 million. Post-acquisition, the company will hold 86.61% stake in the asset management company.

IL&FS Investment Managers will acquire IL&FS AMC Trustee at a price of Rs 10.11 a share of face value of Rs 10 each amounting to Rs 2.53 million. Post-acquisition, the company will hold 100% stake in Trustee company.

This acquisition is subject to necessary approvals of the SEBI.

Shares of the company gained Rs 0.4, or 2.45%, to settle at Rs 16.75. The total volume of shares traded was 91,165 at the BSE (Thursday).