IDFC to purchase 8.71% of ARCIL for Rs 57.46 cr

Mumbai, November 13, 2006: IDFC has agreed to purchase 19,153,340 shares, representing a 8.71% holding, of the Asset Reconstruction Company (India) Limited (ARCIL) for a consideration of Rs. 57.46 crore. ARCIL is India's first and leading asset reconstruction company and is sponsored by the SBI, ICICI Bank, IDBI and PNB.

IDFC is the leading infrastructure advisory and financing organisation in India and is focused on project finance, investment banking and asset management activities in infrastructure.