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Mumbai, Nov. 27 India Infoline Ltd, a financial services company, has approved an equity investment of $76.7 million (approximately Rs 300 crore) into its consumer finance subsidiary India Infoline Investment Services (IIIS) by the Singapore-based investment institution Orient Global, which will acquire a 22.5 per cent stake.

The capital will be primarily utilised for the expansion of IIIS’s subsidiaries, Moneyline, which is in the business of personal and auto loans, and India Infoline Housing Finance, which is in the business of home loans.

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