WL Ross buys HDFC's 20% stake in Mauritius-based asset recovery unit IARM for Rs.97-L

HDFC Investments, a wholly-owned subsidiary of Mumbai-based, publicly-listed HDFC Ltd, is to sell its entire 19.9% stake of 7,960 ordinary Class B shares of par value USD 1 each in Mauritius-based India Asset Recovery Management Ltd (IARM) to private equity firm WL Ross, for USD 1,29,663.23 (INR 96.94 lakh).