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The board of Orient Paper & Industries on Thursday approved the rights issue schedule. Accordingly, the issue will open for subscription on January 25 and close on February 2. The company had earlier fixed November 21 as the record date for the purpose of ascertaining eligible equity shareholders for the rights issue. Orient Paper plans to raise ₹50 crore through the rights issue. Shareholders will receive one equity share on rights basis for cash at a premium of ₹67 a share for every 28 shares held in the company. Shares of Orient Paper slipped about 2 per cent to ₹76.1 on the NSE.
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