EIH finalizes terms of rights issue

EIH finalizes terms of rights issue

Sep 17, 2020 06:09 IST capital market

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.

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