Astec LifeSciences (NSE:ASTEC, BOM:533138) has received board approval to raise up to 2.50 billion Indian rupees through a rights issue of shares, according to a Tuesday filing with the Indian stock exchanges.
The board approved the issue of fully paid-up equity shares of the company of face value of 10 rupees each by way of a rights issue to the eligible equity shareholders of the company.
The record date for the issue will be decided later.
The company's shares were up over 7% in recent trade.
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