The Indian Hotels Company Ltd allots shares to New Vernon Private Equity Ltd and Tata Investment Corporation Ltd

The Preferential Issue Committee of the Board of The Indian Hotels Company Ltd, has approved the allotment of 30,31,885 equity shares of the Company on a preferential basis to New Vernon Private Equity Limited ("New Vernon") - 28,99,484 equity shares and Tata Investment Corporation Limited ("TICL") - 1,32,401 equity shares (collectively, the "Allottees").

The shares were allotted at ₹ 400.06 per equity share (including a premium of ₹ 399.06 per equity share) (for consideration other than cash i.e. swap of equity shares of Piem Hotels Limited, held by the Allottees).

Shares of The Indian Hotels Company Limited was last trading in BSE at Rs. 439.95 as compared to the previous close of Rs. 441.55. The total number of shares traded during the day was 82745 in over 2532 trades.

The stock hit an intraday high of Rs. 444.10 and intraday low of 437.65. The net turnover during the day was Rs. 36461433.00.

Source : Equity Bulls

Keywords

TheIndianHotelsCompany INE053A01029 SharesAllotment NewVernonPE TataInvestmentCorporation