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Arvind International that makes mattresses on Wednesday said the company's board has approved fixing share price at Rs 13.50 per scrip for its upcoming rights issue to raise Rs 11.35 crore.
“The shareholders will be entitled to receive rights entitlement under the proposed rights issue of shares in the ratio of six equity shares for every five equity shares held in the company on the record date,” the company said in a filing to the Bombay Stock Exchange.
The company's board of directors met on Tuesday to approve the issue price of Rs 13.5 per equity share, it added.
A total of 84.12 lakh equity shares would be offered in the issue. The firm's board had earlier approved rights issue of equity shares aggregating to an amount not exceeding Rs 12 crore.
Shares of Arvind International's closed at Rs 10.80 per share on the BSE, up 4.15 per cent from the previous close.
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