Hospitality

Indian Hotels seeks Sebi nod to raise Rs 1,000 cr

MUMBAI

Tata group hospitality major, Indian Hotels Company Ltd (IHCL), has sought market regulator Sebi’s approval to raise Rs 1,000 crore through issue of debentures on rights basis.

As per the draft offer document filed by IHCL with Sebi, the company is planning to issue ‘compulsorily convertible debentures (CCDs)’ for an amount “not exceeding Rs 1,000 crore on a rights basis to the eligible equity shareholders of the company…”.

IHCL intends to utilise part of the proceeds from the issue towards capital expenditure proposed to be incurred by the company for construction of Vivanta by Taj in Guwahati.

Full report here Business Standard 

LEAVE A REPLY

Please enter your comment!
Please enter your name here