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Pune, July 16

The RSB Group, an engineering and component manufacturing house, has received a private equity placement of Rs 154.35 crore with the IL&FS Investment Managers (IIML) as lead investor along with a co-investment by Evolvence. RSB, which recently acquired Miller Brothers, an auto ancillary in Michigan, US, will use the equity infusion for capital expansion activities and to grow organically and inorganically into a $1 billion global group, a statement said.

– Our Bureau

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IL&FS invests in RSB group

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