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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. 
SBI, LIC likely to raise stakes in IL&FS via rights issue, says report

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