EIH Associated gets nod to raise Rs 110 crore via rights issue

29 Mar 2012 Evaluate

Oberoi group firm EIH Associated Hotels has received its board’s approval to raise up to Rs 110 crore through a rights issue. The company will issue equity shares of face value of Rs 10 each to its existing shareholders.

The terms and conditions of the issue, including the rights entitlement ratio, the issue price, issue size, record date and other matters shall be decided by a committee of board constituted for this purpose in consultation with the lead manager.

The company’s board has also approved amalgamation of EIH Associated's wholly-owned subsidiary Island Hotel Maharaj with the company. The amalgamation is subject to subject to statutory and regulatory approvals, and subject to the scheme of amalgamation being sanctioned by the High Court of Madras, the filing added.

The company is into the business of running luxury hotels in India. The Oberoi group which holds the controlling stake in the company, owns or manages 33 hotels and luxury cruisers in five countries under the Oberoi Hotels and Resorts and Trident brands. 

EIH Associated Hotel Share Price

747.00 -0.65 (-0.09%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
Indian Hotel 591.15
EIH 455.25
Mahindra Holi.&Resor 390.90
Chalet Hotels 895.00
Lemon Tree Hotels 130.75
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