According to a banking source, the government-owned insurer sold its holding of ₹3,800 crore back to the airline after AI offered to pre-pay debt worth ₹12,900 crore to investors.
LIC, which had invested 3,000 crore, exited at a premium and will not invest in the airline in future as it will now be owned by a private limited company, said a source close to the development.
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Axis AMC fires 2nd fund manager over alleged irregularities
Axis Asset Management Company (AMC) on Friday terminated its second fund manager Deepak Agrawal who was under probe for alleged irregularities.
SC allows iron ore export from mines in Karnataka
The Supreme Court on Friday lifted the ban on iron ore export from Tumakuru districts in Karnataka and allowed miners to sell ore through direct sale.
'We are going to die': SL warns of food shortages
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SBI looks to offload retail, SME NPAs via portfolio sale
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Coal India production slower than captive mines
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PESB-like body may hire PSB, insurance firm heads
Centre looks to continue maintaining arms length in financial sector hiring
Arcelor bets big on insolvent firms to build India empire
World's largest steel firm set to buy Uttam Galva
Hackers, fraudulent customers steal ₹7.38 crore from Razorpay
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Ola, Uber get CCPA notice citing 'unfair practices'
Authority raises concerns over lack of grievance redress mechanism
