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Our Bureau

Hyderabad, June 19

Following a rehabilitation scheme approved by the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) recently, Andhra Cements Ltd (ACL) has received Rs 79.99 crore of funds infusion. The company has informed the stock exchanges that ICICI Bank has subscribed to 66,18,133 equity shares of the company amounting to Rs 9.99 crore and promoters and associates subscribed to 1,98,54,400 equity shares amounting to Rs 30 crore. Further, ICICI Bank has infused Rs 40 crore into the company as term debt. Thus, the aggregate funds infused into the company amounted to Rs 79.99 crore.

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