SBI, LIC likely to raise stakes in IL&FS via rights issue, says report
Updated : September 28, 2018 09:22 AM IST
SBI and LIC will provide liquidity support to stave off a crisis.
The shareholders of the infrastructure financier will meet in Mumbai on Saturday to approve increasing the company’s authorised capital to Rs 4,500 crore from Rs 1,500 crore to enable a rights issue.
Even though IL&FS on paper is a private company, most of its stakeholders are from the public sector and after the rights issue, it will predominantly be held by public entities.