IL&FS Investment Managers Limited (BSE:511208) agreed to acquire IL&FS AMC Trustee Limited for INR 2.5 million in cash on August 27, 2015. Under the terms of the agreement IL&FS Investment Managers Limited will acquire 0.25 million shares at INR 10.11 per share. In a related transaction IL&FS Investment Managers Limited (BSE:511208) agreed to acquire 86.61% stake in IL&FS Infra Asset Management Limite - IL&FS Infrastructure Debt Fund from IL&FS Financial Services Limited for approximately INR 180 million. The transaction is subject to regulatory approvals. As of November 10, 2015, the transaction awaits approval from the Securities and Exchange Board of India. As of November 14, 2016, the transaction was approved by the Securities and Exchange Board of India. IL&FS Investment Managers Limited (BSE:511208) completed the acquisition of IL&FS AMC Trustee Limited from IL&FS Financial Services Limited on January 3, 2017.