The rights issue did not draw the desired response, mainly because the companys scrip was falling short of the offer price. According to merchant bankers, the public participation did not exceed five per cent of the offer just about 75,000 shares in the total of 14.5 lakh. Denso India makes various auto components and electricals, selling 80 per cent of its production to MUL, Hero Honda and Bajaj. With the slowdown in the auto industry, new projects and corresponding issues are losing their allure for investors.
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