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IFCI sells shares of Indo Rama

Our Bureau

MUMBAI, April 1

IFCI Ltd has informed the Bombay Stock Exchange that it executed a negotiated deal today with Yield Securities & Credits Pvt Ltd for sale of 16,46,579 equity shares of Indo Rama Synthetics India Ltd (IRSL) (being 0.99 per cent of the paid-up capital) and with Virgin Securities & Credits Pvt Ltd for the sale of 16,46,580 equity shares of Indo Rama Synthetics India Ltd (being 0.99 per cent of the paid-up capital) at Rs 12.0445 per share.

The company has informed that the deal is in terms of the share purchase agreement dated March 26, 2001 between IFCI and Mr O.P. Lohia, promoter of IRSL.

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