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Our Bureau

Mumbai, Sept. 4

Aditya Birla Nuvo Ltd is mulling capital raising plans, including a rights issue.

The company's board of directors will meet on September 11 to consider the proposal, it said in a statement to the stock exchanges.

Aditya Birla Nuvo has expansion plans in the textile and BPO and IT space and would require funds for the same, said market observers.

The company recently completed the acquisition of Minacs Worldwide Inc, a BPO company in Canada for around $125 million. A rights issue could also create more liquidity in the stock, said analysts.

The company's scrip rose on the stock exchanges. It closed at Rs 822.35 on the BSE, gaining by Rs 20.85 or 2.6 per cent from the previous close.

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