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PE funds pick up stake in Jai Balaji Ind.

KOLKATA: Two private equity companies — Citi Venture Capital Fund and India Equity partners — have together picked up a 15 per cent stake in the Kolkata-based steel company, Jai Balaji Industries.Through a preferential allotment to the new equity partners and to themselves, the promoters plan to raise Rs. 597 crore. The Rs. 10 share has been priced at Rs. 326.90 each. — Special Correspondent

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