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REC seeks to raise FII stake

India's state-run lender Rural Electrification Corp is seeking central bank approval to raise FII stake.

Written by Reuters | New Delhi |
September 8, 2010 1:57:12 pm

India’s state-run lender Rural Electrification Corp (REC) is seeking central bank approval to raise foreign institutional investor (FII) stake in the company to 35 percent from 24 percent,REC’s head of finance H.D. Khunteta said on Wednesday.

It hopes to get the approval by the end of September,he added.

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