Indian Hotels Company Ltd allots 181801228 Equity Shares upon conversion of the Compulsorily Convertible Debentures

18,18,01,228 Compulsorily Convertible Debentures of Rs. 55/- each (the "CCDs") issued by Indian Hotels Company Ltd on a Rights basis have been automatically and compulsorily converted into 18,18,01,228 Equity Shares fully paid up of the face value of Rs. 1 each at a premium of Rs. 54 upon the expiry of 18 months from the date of allotment i.e. on March 01, 2016 and the Rights Issue Committee - 2014 has subsequently approved the allotment of the aforesaid Equity Shares to the shareholders of the Company as on the Record Date i.e. February 19, 2016 at a ratio of 1:1.

Shares of INDIAN HOTELS CO.LTD. was last trading in BSE at Rs.100 as compared to the previous close of Rs. 98.15. The total number of shares traded during the day was 91064 in over 207 trades.

The stock hit an intraday high of Rs. 100.4 and intraday low of 98.1. The net turnover during the day was Rs. 8987793.

Source : Equity Bulls

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