Nicholas Piramal plans 1:10 rights

The committee of directors, authorised by the board of directors of Nicholas Piramal India, at its meeting today, approved the rights issue proposal in the ratio of 1:10 i.e one equity share of Rs 2 each for every 10 shares held in the company.

According to a release issued by the company to the BSE today, the price per share for the rights issue would be decided at a later date.