ITC yet to take call on EIH rights issue
October 6th, 2010 - 6:58 pm ICT by IANSKolkata, Oct 6 (IANS) Hotels-to-cigarettes conglomerate ITC would take a call on participating in the planned rights issue of EIH when the offer comes, a top official said here Wednesday.
“We will take a call when the (rights issue) offer comes,” Chairman Y.C. Deveshwar told reporters on the sidelines of CII national council meeting.
EIH, which operates Oberoi Hotels & Resorts and Trident Hotels, is expected to issue rights shares to raise up to a Rs.1,300-crore.
ITC currently holds 14.98 percent in EIH. Reliance Industries picked up an equal stake in EIH last month.
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- East India Hotels plans tie-up with RIL - Aug 10, 2011
- No plans of sell stake: EIH Chairman - Jul 09, 2010
- ITC not to make takeover bid on East India Hotels - Jul 24, 2009
- WBIDC to hand over land to ITC for production base - Sep 14, 2010
- Oberoi Group opens hotel in Gurgaon - Apr 12, 2011
- ITC plans Rs.23,000 crore investment over 10 years (Lead, superseding earlier story) - Jul 23, 2010
- Expert panel suggests sweeping changes in takeover norms - Jul 19, 2010
- Defining moment expected for corporate mergers, takeovers (Comment) - Jul 18, 2010
- FMCG business to be profitable in six years: ITC - Jul 29, 2011
- ITC shuts down two WIMCO plants - Jul 29, 2011
- ITC plans mega investments across businesses - Jul 23, 2010
- Government will address exporters' concerns: Sharma - Oct 11, 2011
Tags: cigarettes, conglomerate, itc, national council meeting, oberoi hotels, reliance industries, rs 1, sidelines, stake, trident