Shares of Shalimar Paints will turn ex-rights on Thursday. The company plans to raise ₹50 crore through a rights issue by offering 3.55 crore shares at a price of ₹140 a share. Shareholders are entitled to receive six shares for every 32 shares held in the company.
Shares of Shalimar Paints will remain in focus, as those interested in participating in the rights issue need to buy the company’s shares by Wednesday. The record date for the stock is December 29.