What to watch. Shalimar Paints: eyes on rights issue details

The stock of Shalimar Paints will remain in investors’ focus on Friday, as its board of directors will meet to consider norms for the proposed rights issue. The board will consider fixation of entitlement ratio, the number of shares to be issued, record date and offer price in respect of the proposed rights issue. The company’s board in April had given its approval for the rights issue for an amount not exceeding ₹50 crore. Investors will keenly look at the ratio and price of issue.