Shangar Decor, a BSE-listed penny stock, has announced a Rs 49.35 crore rights issue at Rs 5.76 per share, with the issue closing on December 6. The company plans to use the proceeds for working capital, rights issue expenses, and general corporate purposes. Shangar Decor's shares have delivered multibagger returns, surging 140.97% in the last 180 days and 158.31% YTD.