Indian Hotels sets 1-for-5 rights issue at Rs 70

New Delhi, Sep 27 (UNI) Indian Hotels Co Ltd today said its board has approved the issue of one rights share for every five held, at Rs 70 each.

The company is also planning a rights issue of non-convertible debentures in the ratio of one for every 10 held, it said in a statement.

It will raise Rs 844 crore through the equity rights issue and Rs 600 crore through the issue of debentures, the company added.

UNI