• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Bangalore , Dec. 26

TITAN Industries has finalised the price of the equity shares comprised in the partly convertible debentures (PCD) (forming Part A of the PCD) to be issued on allotment at Rs 350 per equity share of a face value of Rs 10 per share and inclusive of premium of Rs 340 per equity share and within the price band of Rs 325 - Rs 375.

The rights issue is expected to yield Rs 127 crore and the amount would be used for expansion of retail outlets, refurbishing the watch factories and on strengthening its engineering and IT facilities for enhancing production efficiency.

In a communication to the Bombay Stock Exchange, Titan Industries said the decision was taken at the Rights Issue Committee meeting of the board on Monday. This was as per the resolution of the board at its meeting on August 31, 2005.

The price of the non-convertible debenture (NCD) comprised in Part B has been fixed at Rs 250 per NCD carrying an annual interest of 6.75 per cent and redeemable at par at the end of five years from date of allotment.

More Stories on : Rights Issue

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Wockhardt gets USFDA nod for epilepsy drug

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line