Draft offer approved for proposed Rs 130 crore rights issue

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Nifty Microcap 250market · in no size index; the smallest one is usedpendingvs market: pending

Hotels & Resorts peers, median of 54sector-0.2%+4.0% vs sector

On the reaction day the stock moved 4.0 pts more than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Eligible shareholders can buy new shares in the proposed rights issue. The Rights Issue Committee approved the draft offer, which seeks to raise up to Rs 13,000 lakh (Rs 130 crore) through equity shares of Rs 5 face value. Issue price, premium, rights ratio, record date and timetable are yet to be set.

Likely market impact

Shareholders may need extra cash to maintain their ownership. Final price, rights ratio and record date are pending, so dilution is unclear.