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IL&FS AGM: LIC, Orix, SBI to hike stake through Rs 4,500 cr rights issue

In a major breather to the crippled infra lender and engineering group IL&FS, its largest shareholders LIC and Orix Corp and also SBI Saturday announced they would subscribe to the proposed Rs 4,500 crore rights issue of the company. The announcement came at the annual general meeting (AGM) of the company that has been defaulting on debt obligations. (Text: PTI)
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