Mumbai, July 17 -- The board, in its meeting held on July 17, approved the issuance of 2.70 crore fully paid-up equity shares at a price of Rs 277 per share, aiming to raise up to Rs 749.26 crore.

The issue price reflects a 33.40% discount to the current market price.

Eligible shareholders will receive 3 rights shares for every 8 held as of the record date, which has been set for July 23. The entire issue price will be payable at the time of application.

The Rights Entitlements (REs) will be credited to eligible shareholders' demat accounts before the issue opens on July 31. Trading of REs will close on August 11 for on-market transactions, and August 13 for off-market renunciations. The issue itself will close on August 14, unless ext...