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The committee of directors of Raj Rayon Industries on Friday decided to allot eight crore equity shares of ₹1 each at par amounting to ₹8 crore to shareholders belonging to promoter (1.73 crore shares) and non-promoter category (6.27 crore shares). The proposal was already approved by the shareholders. Shares of Raj Rayon closed at ₹0.55, down 8.33 per cent on the NSE.
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