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Shalimar Paints has given approval to rights issue worth Rs.240 crore.
The board of directors at its meeting held on July 10 considered and approved the draft letter of offer of the company and related documents in respect of the proposed rights issue not exceeding an amount of Rs.240 crore.
Furthermore, the board has also given approval to re-establishment of Nashik plant and establishment of new regional distribution centre (RDC) at Nashik plant.
