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Our Bureau

Chennai, Nov. 20

Shriram City Union Finance will raise Rs 192 crore by issuing 1,20,000 shares to three private equity (PE) funds, the company has said in a notification to the stock exchanges today.

The PE funds are - Indopark Holdings Ltd, Van Gogh Ltd and CPIM Funds. In addition, Shriram City's holding company, Shriram Enterprise Holdings Pvt Ltd, would also get 35 lakh warrants convertible into equity shares at the option of the holder within 18 months of the date of allotment. Shriram Enterprise will pay Rs 5.6 crore, upfront, for the warrants. An extraordinary general meeting of the company for this purpose is to be conducted on December 18, the notification said.

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