Shalimar Paints: Board meets for rights issue

The board of directors of Shalimar Paints will meet on Friday to consider various options for fund raising, including issue of further shares on rights basis. The Kolkata-based company, however, did not elaborate on the purpose of raising funds. Investors will be keen to know the quantum of funds the company plans to raise. Besides, entitlement ratio for the shareholders and the price at which the issue will be offered to them would be the other key factors.