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HYDERABAD: Sirpur Paper Mills Ltd has informed bourses that the company's board has approved the draft letter of offer for the rights issue of shares at its meeting on Tuesday. The company has decided to issue 66.72-lakh shares of Rs 10 each to the existing shareholders in the ratio of 4:5 (four shares for every five shares held by them).

The board has fixed the price band of Rs 75-90 per share. The terms of payment were payment of 40 per cent of the amount on application and 60 per cent on call.

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Modison to pay 10 pc interim

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