Padam Cotton Yarns Limited announced a rights issue to raise up to Rs 27,00,00,000 (Rupees Twenty Seven Crore only) through the issuance of equity shares with a face value of Re. 1 each, subject to regulatory approvals and terms to be decided later; the rights issue will be offered to eligible shareholders on a record date to be notified subsequently. The board also approved shifting the company's corporate office from Ahmedabad to a new location near Shyamal Bridge, Satellite, Ahmedabad, and will maintain its books of accounts at the new office.