Indian Hotels Rights Issues Closing Date Extended to 24th April
Indian Hotels Co Ltd, the country’s top hotels operator, has extended the close of Indian Hotels rights issue of equity shares by nine days. The issue of 120.6 million shares to raise Rs844 crore ($210 million), was scheduled to close on 15 April but will now close on 24 April.
The rights issue of the Tata Group company, which owns the Taj chain of luxury hotels, opened on 14 March. The lead manager to the issue is JM Financial Consultants. Volatile market conditions have seen top private carrier Jet Airways Ltd delay its rights issue of $400 million. It now expects to launch the issue by end-June.
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