Mumbai, Oct. 23: Citigroup affiliates will acquire a 5.75 per cent stake in New Delhi-based Ansal Properties and Infrastructure Ltd for Rs 175.8 crore.

In a filing on the Bombay Stock Exchange, the city-based realty firm today said it would allot 28,83,149 equity shares (face value Rs 5 each) on a preferential basis to Citigroup affiliates — CBC Bahrain, Citigroup Venture Capital International Growth Partnership Mauritius Ltd and to certain co-invest trusts at a price of around Rs 610.

The decision, which was taken by the company’s board at its meeting held on October 20, is subject to shareholders’ nod and other regulatory approvals.

The shares of the company today ended at Rs 727.45, up almost 5 per cent from their previous close on the BSE.

Ansal would also raise Rs 50 crore by allotting 8,19,659 convertible debentures (Rs 100 each) on preferential basis to HDFC Venture Trustee Company Ltd.

The debentures could later be converted to shares at a price of around Rs 610 each share.

The board also approved issue of securities of up to Rs 2,500 crore and decided to convene an extraordinary general meeting of the company on November 18.

During the first quarter ended June 30, 2006, the total income of the company was at Rs 161.20 crore compared with Rs 86.14 crore in the same period a year back, an increase of 87 per cent. Net profit at Rs 28.22 crore was 169 per cent up over the net profit of Rs 10.48 crore posted during the same period a year back.