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The board of IP Rings on Wednesday approved the opening date of the proposed rights issue as January 23. The issue will close on February 6 and the last date for request for split application is January 30, it said in a notification to the stock exchanges. Its board had earlier approved four rights equity shares for every five shares held as on the record date January 16. The offer price was fixed at ₹88.75 a share. The stock of BSE-listed IP Rings edged down 3.2 per cent at ₹233.45 on the BSE.
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