EIH to raise Rs 1300 crores through Rights Issue

EIH Ltd has announced that the Board of Directors of the Company at its meeting held on September 23, 2010, inter alia, has accorded consent to a Rights Issue of Equity Shares not exceeding Rs. 1,300 crores.

Further the Company has informed that the Board at this Meeting also constituted a Board Committee called the Rights Issue Committee to finalise the Rights ratio, issue price and all other procedural modalities relating to the proposed Rights Issue.

The stock was trading at Rs.143.60, up by Rs.3.75 or 2.68%. The stock hit an intraday high of Rs.145.80 and low of Rs.142.60.

The total traded quantity was 3.71 lakhs compared to 2 week average of 2.13 lakhs.

Source : Equity Bulls

Keywords