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The rights issue of Bharat Gears will open on Monday and close on April 30. The company will issue up to 11.63 lakh shares for cash at a price of ₹105 a share on rights basis to eligible shareholders, as on the record date of April 3. The company has fixed the entitlement ratio at one equity share for every seven held in the company. The proceeds from the issue would be used for financing identified equipment. Analysts will closely monitor the response to the rights issue.
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