EIH finalizes terms of rights issue

The Rights Issue Committee of the EIH at its meeting held on 17 September 2020 has approved the following terms for proposed rights issue:

a) Instrument: Equity shares of face value Rs 2 each (Rights Equity Shares).

b) Number of Rights Equity Shares to be issued: 53,794,768 Rights Equity Shares, for an amount aggregating to Rs 3,496,659,920(assuming full subscription).

c) Rights Issue Price: Rs 65 per equity share (including a premium of Rs 63 per equity share over face value of Rs 2 per share).

d) Rights entitlement ratio: 8 equity shares for every 85 equity shares held by eligible equity shareholders of the Company as on the record date.

 

e) Record date: The Committee also fixed the record date for the purpose of determining the shareholders who will be eligible to apply in the Rights Issue as 23 September 2020.

Powered by Capital Market - Live News