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.