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MUMBAI: Consumer durables major Videocon Industries on Tuesday said its board has approved raising Rs 1,245 crore by issuing shares on rights and preferential basis.

The board has approved to raise Rs 1,200 crore by allotting shares on rights basis, and Rs 45 crore by issuing shares on preferential basis to an independent non-promoter investor, the company said in a filing to BSE.

Both the proposals are subjected to shareholders approval, it said.

Shares of Videocon Industries were trading at Rs 217.55 on BSE in morning trade, down 2.40 per cent from its previous close. — PTI

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