ITC yet to take call on EIH rights issue

Oct 06, 2010 |

IANS

Tags:

ITC Hotels

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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