MUMBAI: Shares of Maytas Infrastructure opened 4.17 percent higher on Monday after Saudi Binladin Group (SBG) agreed to buy a 20 percent stake in Maytas at 195.3 rupees a share, for around 3 billion rupees. At 09:05 a.m., the shares came off, slipping 1.28 percent to at 208.50 rupees in a firm Mumbai market.

The corporate debt restructuring cell of the firm has also approved the debt restructuring proposal for Maytas Infrastructure, it said on Sunday. [ID:nSGE65K02D] The cash-strapped firm in which India's IL&FS Group now holds 37 percent stake, was earlier controlled by family of Ramalinga Raju who confessed of inflating profits of Satyam Computer Services for years.