The Hindu Business Line : IARC raises Rs 90 crore

Mumbai, Nov. 14 International Asset Reconstruction Company Private Ltd (IARC) on Monday said it has raised its second round of capital aggregating Rs 90 crore from leading domestic institutions and banks as well as foreign banks.

The paid-up capital of the company now stands at Rs 105.98 crore.

The company raised the resources from HDFC Bank Ltd, Tata Capital Ltd, ICICI Bank Ltd, Standard Bank Plc (part of The Standard Bank Group, South Africa) and Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO) to further its asset reconstruction business.

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