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Sobha Developers – Rights Issue

August 26, 2008

Bangalore based realty major Sobha Developers has convened an extraordinary general meeting (EGM) on September 22, 2008, to get shareholders’ nod for its proposed rights issue. The company hopes to mop up Rs 350 crore through the exercise.

The funds will be used for general corporate purposes, including working capital, acquiring land and other needs, the company stated.

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