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Varun Shipping's rights issue

MUMBAI: Varun Shipping Company on Thursday announced a rights issue in the ratio of 1:2 with a price band of Rs. 18-21 per share. The board decided to offer 362.61 lakh shares of the face value of Rs. 10 each in the ratio of one equity share for every two equity shares held, the company informed the Bombay Stock Exchange here. The exact issue price for the rights issue would be determined by the board or committee of directors at a later date, it added. — PTI

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