Indian Hotels extends rights issue date

Hospitality major Indian Hotels has extended the closing date of its rights issue to April 24, 2008, from the earlier announced April 15, 2008.

The company has also revised the warrant exercise period to September 01, 2009, with it closing on September 30, 2009, as against the earlier announced opening date of September 01, 2008 and closing date of September 30, 2008. The extension is to provide an opportunity to shareholders to exercise their rights, the company said in a statement to the BSE.

Indian hotels plans to raise Rs 844 crore through issuance of 120.6 million shares. The issue opened on March 14.