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KDDL has extended the closing date of its rights issue by 10 days to May 3. The company has proposed to issue up to 10.87 lakh shares at ₹230 a share. The Rights entitlement ratio has been fixed as 7:75 (seven rights shares for every 75) held by the eligible shareholders as on the record date, which is March 31. The company plans to raise ₹25 crore through the rights issue. The issue, which opened on April 9, was supposed to close on April 23. On Friday, the stock of KDDL closed 20 per cent higher at ₹361.85 on the BSE.
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