Indian Hotels Company Ltd has informed BSE 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.
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