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Shares of Karnataka Bank will turn ex-rights on Monday. The bank’s board had approved an issue of equity shares on rights basis in the ratio of 1:2. The bank had fixed the price at a huge discount at ₹70 a share, against the current market price of ₹158. The bank has declared the record date for the rights issue as October 25. Similarly, the board of CIL Nova Petrochemicals had approved raising up to ₹20 crore through a 1:1 rights issue to its existing shareholders at ₹4.50 a share.
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