Hotel Leelaventure to raise funds to fund expansion

Hotel Leelaventure Ltd has announced that the Board of Directors of the Company at its meeting held on January 25, 2010, inter alia, has considered and approved to raise funds so as to reduce the debt and also to part finance the expansion plans - upto US$ 130 million (equivalent upto approx. Rs. 600 Crores) through mix of issue of equity shares via QIP. and/or FCCB and Committees was authroised to finalise all the relevant details, timings and quantum of the issue.

The Stock closed the day at Rs.48.80, down by Rs.0.50 or 1.01%. The stock hit an intraday high of Rs.49.50 and low of Rs.47.75.

The total traded quantity was 399770 compared to 2 week average of 485260.

Source : Equity Bulls

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