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The Board of Directors of Iris Clothings Limited has confirmed a rights issue, approving the issuance and allotment of equity shares on a rights basis, with a face value of ₹2 each, for a total amount not exceeding ₹5,000 Cr. This decision follows a prior board meeting's approval for fundraising. The record date for eligible shareholders will be determined later. Additionally, the board approved the filing of a Draft Letter of Offer with the Stock Exchange as part of this fundraising effort.