Stocks

Indian Hotels rights issue opens on Friday

| Updated on January 08, 2018

The ₹1,500-crore rights issue from Indian Hotels Company will open for subscription on Friday. The company will issue one equity share for every five equity shares held in the company at ₹75 a share.

The company will issue 20 crore shares through the rights issue. The offer closes on October 27. Funds raised will be used to meet the company’s long-term financing needs for capital expenditure, growth plans and debt repayment.

Published on October 12, 2017

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