Date:01/10/2008 URL: http://www.thehindu.com/2008/10/01/stories/2008100156851700.htm

Business

HSBC buys further stake in Investsmart

MUMBAI: HSBC on Tuesday announced the acquisition of 93.86 per cent stake in IL&FS Investsmart for Rs. 1,311 crore (around $296.4 million). In May, it had acquired 73.21 per cent stake in Investsmart. Later, it acquired an additional 20.65 per cent through an open offer.