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Promoters' stake increased marginally in EIH during the March quarter to 33.87 per cent from 32.31 per cent in December end, following the rights issue. While the all major stakeholders — ITC and Reliance Industries had exercised their rights fully, a few retail investors seemed to have renounced the offer, because of which, promoters holding inched up marginally. However, number of retail investors increased to 88,182 from 78,993.
EIH Ltd, which runs the Oberoi chain of hotels, had raised about Rs 1,179 crore through the rights issue.
Domestic institutions such as LIC and New India Assurance had also subscribed. The rights at a premium of Rs 64 a share were offered to those shareholders whose names appeared in the books of the company as on February 22, in the ratio of five equity shares for every 11 shares held on the record date.
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