Outlook & Recommendation: The Company is offering shares to existing investors in the ratio of 1:15 at a price of ` 1,257 per share out of which 25% needs to be paid on application while 25% would need to be paid in May 2021 and balance 50% in November 2021. We are positive on the future prospects of the company on the back of strong traction in digital and retail business and currently have a BUY rating on the stock with a SOTP based target price of Rs.1,748. We would therefore recommend investors to SUBSCRIBE to the rights issue.

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