Indian Hotels fixes record date for Conversion of Detachable Warrants

Indian Hotels Company Ltd has announced that the 6,02,76,898 Detachable Warrants issued on May 13, 2008 along with Non-Convertible Debentures are due for conversion into Equity Shares from September 01 to September 30, 2009 (Warrant Conversion Period).

The Warrant holder can convert the Warrants into Equity Shares by making an application to the Company along with a payment of Warrant Conversion Price of Rs 150/- per Warrant.

The Company has fixed August 27, 2009 as 'Record Date' for determining the list of Warrant holders to whom Warrant Exercise Application Form will be mailed.

The unexercised Warrants shall automatically lapse and stand cancelled on October 01, 2009.

The stock closed the day at Rs.60.95, down by Rs.2.65 or 4.17%. The stock hit an intraday high of Rs.63 and low of Rs.60.65.

The total traded quantity was 157528 compared to 2 week average of 691060.

Source : Equity Bulls

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