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Indiabulls Ventures has received capital markets regulator SEBI’s approval to raise ₹2,000 crore by issuing equity shares to its existing shareholders on rights basis.
The company had filed draft papers with SEBI in September and obtained “observations” from the regulator on January 18, the latest update with the markets watchdog showed.
Proceeds of the issue will be utilised to meet the company’s funding requirements and to support future growth of its consumer finance and asset reconstruction businesses through its subsidiary firms, according to the DRHP.
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