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Indian Hotels extends closing date of rights issue

Wed Apr 9, 2008 11:37pm EDT

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MUMBAI, April 10 (Reuters) - Indian Hotels Co Ltd (IHTL.BO), the country's top hotels operator, has extended the close of its $210 million rights issue of equity shares by nine days, according to an advertisement in newspapers on Thursday.

The issue of 120.6 million shares to raise 8.44 billion rupees ($210 million), was scheduled to close on April 15 but will now close on April 24, the company said in the advertisement.

The rights issue of the Tata Group company, which owns the Taj chain of luxury hotels, opened on March 14.

The lead manager to the issue is JM Financial Consultants.

Volatile market conditions have seen top private carrier Jet Airways Ltd (JET.BO) to delay its rights issue of $400 million. It now expects to launch the issue by end-June. ($1=39.98 rupees) (Reporting by Rina Chandran; Editing by John Mair)



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