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The board of directors of Minda Industries on Tuesday approved the rights issue price as ₹250 a share and entitlement ratio as one equity share for every 27 held. Earlier, Minda Industries' board on June 29 had approved rights issue worth ₹250 crore.
The company will issue one crore shares through the rights offer and has fixed August 17 as record date to identify eligible shareholders. The issue will open on August 25 and end on, September 8, 2020. Last date for renunciation of rights entitlement is September 3. Shares of Minda Industries trade fell marginally to ₹280.65 on the BSE.
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