Chatterjee Group To Acquire Stake In IDFC Securities From IDFC FHCL

Private-equity firm Chatterjee Group agreed to buy a stake in IDFC Ltd.’s brokerage unit, the Mumbai-based infrastructure-financing company said.

"IDFC Ltd. and IDFC Financial Holding Company Ltd. have entered into an understanding with The Chatterjee Group ["TCG"]... one or more entities of TCG will acquire equity stake in IDFC Securities Ltd. from IDFC FHCL in one or more tranches over a period of time," an IDFC statement said.

The definitive agreement will be signed among the parties shortly. The transaction will conclude on the receipt of the requisite regulatory approvals as applicable, the statement added.