IL&FS Investsmart gets open offer boost

DALAL STREET SPIKES

IL&FS Investsmart rose 5 per cent to close at Rs 176.95 on an open offer of 1.39 crore equity shares at Rs 210 each by E-Trade Mauritius "� a worldwide provider of financial solutions as a result of the conversion of E-Trade's Investsmart GDRs into fully paid-up voting capital in the company.

The stock has gained around 38 per cent in the last three months, which is much less than gains of over 50 per cent logged by its peers such as India Infoline and IndiaBulls.

Recently, CLSA Mauritius sold 31.60 lakh shares at Rs 184.25 each to an FII sub-account. IL&FS Investsmart is one of the leading financial services provider in India with presence across 93 cities.