Indian Hotels Company Ex-rights: 1:5 & 1: 10

Indian Hotels Company Ex-rights: 1:5 & 1: 10 NCD(BSE: 500850 | NSE: INDHOTEL | ISIN: INE053A01029)

CMP BSE
126.10 1.35 (1.08%)
: Feb 26, 16:02

CMP NSE
126.10 1.25 (1%)
NSE : Feb 26, 15:57
Indian Hotels Company has informed BSE that February 28, 2008 has been fixed as the Record Date for deciding the entitlement of Rights Issue of equity shares and 6% Non Convertible Debentures with detachable warrants of the Company.

Rights Issue - 1:5 (1 share for every 5 shares held on the record date. Rs 70 per share (including Rs 69 premium). Full amount of Rs 70 per share is payable on application.

Corporate Notices
Source: NSE - Indian Hotels Co. Ltd. had informed the Exchange regarding simultaneous but unlinked Rights Issue of equity shares @ Rs.70/- per share and 6% Non Convertible debentures with detachable warrants of the Company. Now the Company has informed the exchange that "The Board of Directors at its meeting held on January 28, 2008 has decided the exercise price of a warrant into share as Rs.150/-. The same has been taken on record by the Committee of Directors constituted for the Rights Issue on January 29, 2008. The warrant holder will have to opt for the conversion of warrant into shares after payment of conversion price within 12 months from the date of allotment."