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Magma ties up with International Tractors

NEW DELHI: Magma Shrachi Finance and International Tractors Limited (ITL) on Friday announced a tie-up for floating a joint venture with a paid-up capital of Rs. 25 crore for financing tractors manufactured by ITL under the brand name Sonalika. Magma will hold 74 per cent of the share capital, while ITL 26 per cent in the proposed joint venture, Magma ITL Finance Limited.

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