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The board of directors of Indo Asia Finance Ltd has approved an issue of equity shares on preferential basis for an aggregate amount of ₹6 crore. The price at which the shares to be allotted will be determined according to a SEBI formula. The preferential allotment will be subject to the approval of shareholders. The stock on Tuesday closed at ₹6.69, up 2.9 per cent on the BSE.
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