Merrill Lynch Capital Markets has enhanced its investment in prominent real estate developer Ansal Properties and Infrastructure, boosting its stake to nearly 6%. The firm's subsidiary, Merrill Lynch Capital Markets Espana SA SV, procured an impressive 11.63 lakh equity shares, translating to a 1.03% ownership in Ansal Properties via the secondary market. Prior to this acquisition, Merrill Lynch held a 4.94% stake, which now escalates to 5.96% following the most recent purchase.
When evaluated against the closing share price of Ansal Properties, the transaction's total value approximates twelve crore rupees. In a strategic move, the company has declared its intention to invest thirty-six hundred crore rupees toward the establishment of a sprawling two hundred seventy acres IT SEZ and associated parks across the nation. This ambitious Special Economic Zone will encompass not only an IT zone but also a commercial area, residential spaces, and recreational facilities. On the Bombay Stock Exchange, shares of Ansal Properties concluded at Rs 101.60, reflecting a 4.38% decline.