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The rights issue of Sun Pharma’s subsidiary Sun Pharma Advanced Research Co (SPARC) will close on Monday. The company has plans to raise ₹250 crore, by issuing up to 1.02 crore equity shares for cash at ₹245 a share. SPARC, which offered five shares for every 116 equity shares held as on the record date of March 17, plans to use the funds for meeting costs related to pharmaceutical research and development and clinical trials.
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