EIH allots 178615442 Equity Shares on Right Basis

EIH Ltd has successfully completed its Rights Issue of 178,615,442 Equity Shares with a face value of Rs. 2 each at a premium of Rs. 64 per Equity Share (Issue Price Rs. 66 per Equity Share) amounting to Rs. 1178.86 crores to the existing Shareholders.

The Rights were given to those Shareholders whose name appeared in the books of the Company as on February 22, 2011, the Record date fixed for the purpose, in the ratio of 5 Equity Shares for every 11 Equity Shares held.

Consequent upon this allotment, the Company's Issued Share Capital has increased from Rs. 78,59,07,944 to Rs. 114,31,38,828. The number of issued Equity Shares of the Company has increased from 39,29,53,972 to 57,15,69,415.

The Company had received "in-principle" approvals to the Rights Issue from the Stock Exchanges.

The Company is in the process of obtaining the required trading approvals from the concerned Stock Exchanges for the Equity Shares.

The stock was trading at Rs.81.90, down by Rs.0.15 or 0.18%. The stock hit an intraday high of Rs.83.40 and low of Rs.81.55.

The total traded quantity was 0.59 lakhs compared to 2 week average of 1.83 lakhs.

Source : Equity Bulls

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