said on Friday reserve Bank of India allowed it to invest ₹500 crore in the upcoming ₹2,500 crore rights issue.
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“After the rights issue, the bank’s holding will come down below 30% but above 26% so that the bank retains the promoter status,” Chief Executive AK Goyal Told. The state-owned bank currently holds a 32% stake in the housing finance firm.
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“The rights issue process is expected to conclude by December or in the March quarter,” Goyal said.
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