EIH has received approval from rights issue committee to raise up to Rs 350 crore. The committee in its meeting held on September 17, 2020 approved the issue of 5,37,94,768 equity shares of face value Rs 2 each aggregating nearly Rs 350 crore on full subscription. The rights issue price has been fixed at Rs 65 per equity share, including a premium of Rs 63 per equity share over face value of Rs 2 per share.
The rights entitlement ratio has been fixed at eight equity shares for every 85 equity shares held by eligible equity shareholders of the company as on the record date, which has been fixed as September 23, 2020.
EIH is engaged in the business of operating and managing luxury hotels, restaurants, management contracts and travel and tours.
