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HYDERABAD: Sirpur Paper Mills Ltd (SPML) has decided to come out with a rights issue of four ordinary shares for every five ordinary shares held by the shareholders at a price of Rs 90 per share, including a premium of Rs 80 per share. The record date for the issue has been fixed at March 4.

A decision to this effect was taken at a meeting of the company's Committee of Directors (Rights Issue Committee) held on Thursday, according to a communiqué issued by SPML to bourses.

The terms of payments for the issue are 40 per cent payable at the time of making application and 60 per cent on call, the exact date for which would be fixed later.

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