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The ₹350-crore rights issue of Bajaj Electricals will open for subscription on Tuesday. The company plans to issue up to 1.129 crore shares at an issue price of ₹310 a share. The rights entitlement ratio has been fixed at 13 shares for every 118 shares held by eligible equity shareholders of the company on the record date, which is February 6. Shares of Bajaj Electricals on Monday closed at around ₹406. Shareholders of the company will closely monitor the response to the issue.
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