Indian Hotels Company Ltd has announced that 18,18,01,228 Compulsorily Convertible Debentures of Rs. 55/- each (the "CCDs") issued by the Company on a Rights basis have been automatically and compulsorily converted into 18,18,01,228 Equity Shares.
Indian Hotels Company Ltd has announced that 18,18,01,228 Compulsorily Convertible Debentures of Rs. 55/- each (the "CCDs") issued by the Company on a Rights basis have been automatically and compulsorily converted into 18,18,01,228 Equity Shares fully paid up of the face value of Rs. 1 each at a premium of Rs. 54 upon the expiry of 18 months from the date of allotment i.e. on March 01, 2016 and the Rights Issue Committee - 2014 has subsequently approved the allotment of the aforesaid Equity Shares to the shareholders of the Company as on the Record Date i.e. February 19, 2016 at a ratio of 1:1.
Indian Hotels Co Ltd is currently trading at Rs. 99.6, down by Rs. 0.45 or 0.45% from its previous closing of Rs. 100.05 on the BSE.
The scrip opened at Rs. 99.7 and has touched a high and low of Rs. 100.05 and Rs. 99 respectively. So far 31288(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 8079.04 crore.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 124.8 on 12-Jan-2016 and a 52 week low of Rs. 80.75 on 07-Sep-2015. Last one week high and low of the scrip stood at Rs. 102.1 and Rs. 95.5 respectively.
The promoters holding in the company stood at 37.53 % while Institutions and Non-Institutions held 40.95 % and 21.5 % respectively.
The stock is currently trading above its 50 DMA.
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