IVRCL Assets Raising Rs 150Cr From Ascent Capital - 04-Oct-2010
Infrastructure player IVRCL Assets and Holdings Ltd, part of Hyderabad-based IVRCL Group, is raising Rs 150 crore ($33.8 million) from Ascent India Fund III. The private equity fund, managed by the Bangalore-based Ascent Capital, is picking up the shares at Rs 129, slightly higher than today's closing price of Rs 127.9. Based on the current outstanding share capital, the PE firm could have around a 5.9% stake in IVRCL Assets and Holdings.