Tata Teleservices rights issue priced at Rs.17, ratio 19:100

Tata Teleservices Maharashtra Ltd has announced that the Rights Issue Committee of the Board of Directors of the Company at its meeting held on October 13, 2006, inter alia, has approved the following:

1. An issue price per equity share of Rs 17/- for the rights issue of equity shares announced earlier.

2. Issue of shares in proportion of 19 Equity Shares for every 100 existing Equity shares held at the close of the Record date.

Further the Company has informed that, the period beginning October 13, 2006 and ending on the record date constitutes a Closed period as per the conditions of the Bonds and accordingly, the Bondholders will not be entitled to exercise their rights to convert their Bonds into Equity shares of the Company during the same period.

Source : Equity Bulls

Keywords