Indian Hotels plans to raise Rs1,000 crores

Indian Hotels Company Ltd has announced that the Rights Issue Committee - 2014 (the “Committee”) of the Company proposes to consider and approve, on July 09, 2014, inter alia, the Record Date, Issue Schedule (i.e. Issue Opening / Closing date) and the Letter of Offer in relation to the issue of the compulsorily convertible debentures (the “CCDs”), by way of rights issue, to the existing shareholders of the Company on the Record Date for an amount aggregating upto Rs. 1,000 crores in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended and other applicable laws.