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Infrastructure India Holdings Buys Stake in Aegis

Private equity firm Infrastructure India Holdings Fund LLC has acquired a 6.3% stake in Aegis Logistics Ltd., Reuters reported. The proceeds will help Aegis with its port terminal infrastructure projects, the company said. Under the terms of the deal, Aegis sold 2.12 million shares to the firm, at a price of 322 rupees ($7.20) each.

(Reuters) Aegis Logistics Ltd has issued 6.3 percent stake to private equity fund Infrastructure India Holdings Fund LLC on a preferential basis, it said on Thursday.

The firm sold 2.12 million shares to the fund at 322 rupees each, it said in a statement to the BSE.

The shares will be locked in till March 22, 2012.

The infusion of funds into the company will be deployed in its port terminal infrastructure projects, Aegis had said in February. .

Aegis shares ended up 0.49 percent at 288.85 rupees in a firm Mumbai market.

(Reporting by Aniruddha Basu; Editing by Harish Nambiar)