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 Corporate - Rights Issue


Priyadarshini Spg rights offer

Our Bureau

HYDERABAD: The board of directors of Priyadarshini Spinning Mills Ltd has approved the draft letter of offer for rights issue.

The company proposes to offer 37.8-lakh equity shares of Rs 10 each for cash at a premium of Rs 15 per equity share on the rights basis to the existing shareholders in the ratio of three shares for every five shares held. The company informed the stock exchanges that the rights offer would enable it raise Rs 9.45 crore. The record date would be announced later.

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