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Shares of realty firm Mahindra Lifespace Developers will turn ex-rights on Thursday. It has fixed the price at ₹292 a share for its ₹300-crore rights issue. The entitlement ratio is 1:4 (one rights equity share for every four fully paid-up equity shares held). Investors who wish to become eligible for the rights issue have to buy the company’s shares by Wednesday. The proceeds from the issue will be primarily used for redemption of non-convertible debentures.
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