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The rights issue of Kingfa Science & Technology will open for subscription on Monday. The company is offering 19,99,893 shares to eligible shareholders at ₹750 apiece.
The entitlement ratio is 18 shares for every 91 fully paid-up shares held in the company as on March 10. Kingfa will use the funds to set up a new facility at Chakan Industrial Area, Pune, upgrade the R&D facility at its Puducherry unit, and expand the existing set-ups at Puducherry and Manesar.
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