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I was late to know about the rights issue of a company. Will it make sense to accumulate the stock from a week before the record date of the rights issue and sell them after the stocks are allotted at a discount to the market?

Law does not restrain one from purchasing stocks before the record date of the rights issue. Just make sure it's feasible. 

We can help you in the funding compliance matters like this instance of rights issue -> "Get your Wazzeer"

 

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