Indian Hotels' stock nears all-time high as board fixes QIP price band

28 Mar 2022 , 03:21 PM

Indian Hotels Company Limited informed that the QIP Committee 2021-22 of the board of directors of the Company has approved the allotment of 9,90,09,900 Equity Shares of face value Rs1 each to eligible qualified institutional buyers at the issue price of Rs202 per Equity Share. This includes a premium of Rs201 per share and reflects a discount of Rs1.48 on the floor price of Rs203.48 per equity share.

The total value of this qualified institutional placement order is Rs2,000 crore (Rs19,99,99,99,800).

The issue opened for subscription on March 22, 2022, and closed on March 25, 2022.

Post the allotment of Equity Shares in the Issue, the paid-up equity share capital of the Company stands increased to Rs1,42,03,99,602, comprising of 1,42,03,99,602 Equity Shares of Rs1 each.

Indian Hotels Co is currently trading at Rs231.85 up by Rs4.45 or 1.96% from its previous closing of Rs227.40 on the BSE. Its scrip has touched intraday high and low of Rs234.80 and Rs225 respectively.