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EIH Limited Rights Issue (EIH Ltd Rights Issue) Detail

₹349.67 Crores | Listing at BSE | Tue, Sep 29, 2020 - Tue, Oct 13, 2020

Rights Issue Detail
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EIH Limited Rights Issue comprises 5.38 Cr equity shares aggregating to ₹349.67 Cr, offered at an issue price of ₹65 per share with a face value of ₹2 per share.

The record date for determining eligible shareholders is Sep 23, 2020, with the Rights Issue being offered in the entitlement ratio of 8:85.

As per the terms of payment, ₹65 per share payable in full at the time of application.

The Rights Issue opens on Sep 29, 2020 and closes on Oct 13, 2020.

The deemed date of allotment is Oct 22, 2020, following which the equity shares are expected to be credited to demat accounts on Oct 23, 2020 and listed on the BSE on Oct 27, 2020.

Ambit Pvt.Ltd. is the Lead Manager to the issue and Kfin Technologies Ltd. is the Registrar to the Issue.

Investors are advised to refer to the EIH Limited Letter of Offer for detailed information, including risk factors, issue terms, and procedural details.

Record Date

Wed, Sep 23, 2020

Entitlement Ratio

8 : 85

Open Date

Tue, Sep 29, 2020

Close Date

Tue, Oct 13, 2020

Rights Issue Details

Rights Issue Timetable

Summary of financial Information (Consolidated)
Particulars For the year/period ended (Rs in Million)
31-Mar-20 31-Mar-19
Total Assets 44,519.32 42,518.07
Total Revenue 15,962.53 18,108.20
Profit After Tax 1,651.43 1,489.57

About EIH Limited

Incorporated in May 1949 as 'The East India Hotels Limited' as a public limited company, the company got its name changed to EIH Limited (EIH) in November 1996. EIH is the flagship company of the Oberoi group and is one of the largest and most reputed names in the hospitality industry in India. The company operates its five-star hotels under the brand of 'Oberoi and Trident' and has its presence in major tourist destinations in India as well as globally in Bali, Dubai, Mauritius, Indonesia, and Egypt. EIH has its hotels in India in Mumbai, Delhi, Bengaluru, Kolkata, Udaipur, Ranthambore, Agra, Jaipur, Shimla, Himalayas, Cochin, and Bhubaneshwar. Apart from the primary hotel business, EIH is also engaged in providing flight and airport services, car rentals, air charter services, and a printing press. EIH has 10 Subsidiaries, three Associates, and two Joint Ventures. The company does not have a holding company. EIH also owns a luxury cruiser motor vessel in Cochin and Maidens Hotel in Delhi. EIH has a 12 member board team with a vast amount of experience in the hospitality industry. EIH has consecutively won many awards as Best Hotel group, World's Leading Luxury Hotel brand received by the Oberoi group of hotels for their services.

Objects of the Issue:

The Net Proceeds from the Issue are proposed to be utilized towards: 1. Repayment/ prepayment in full or in part, of borrowings availed by the Company; and 2. General corporate purposes.

Rights Issue Review

[Dilip Davda] EIH is one of the well-known hotel chains. It has come to market with second rights issue after 2011. However, considering its negative performance for Q1 of FY21 and prevalent uncertainty following pandemic, cash surplus risk savvy investors may consider investment for long term at their own risk. Read detail review...

Company Contact Information

EIH Limited
4 Mangoe Lane,
Kolkata 700 001,

Rights Issue Registrar

Kfin Technologies Ltd.

Rights Issue Lead Manager(s)

  1. Ambit Pvt.Ltd.

Quick/Useful Links

Open an Instant Account with Zerodha

Rights Issue FAQs

The EIH Ltd Rights Issue opens on Tue, Sep 29, 2020, and closes on Tue, Oct 13, 2020.

EIH Ltd Rights Issue Schedule

Last Date for credit of Rights Entitlements
Last Date for renunciation of Rights Entitlements
Issue Opening DateTue, Sep 29, 2020
Issue Closing DateTue, Oct 13, 2020
Date of Allotment (on or about)Thu, Oct 22, 2020
Date of Credit (on or about)Fri, Oct 23, 2020
Date of Listing (on or about)Tue, Oct 27, 2020
EIH Ltd Rights Issue price is set at ₹65 per share.
The eligible shareholders are being offered 8 Rights Equity Share(s) for every 85 fully paid-up Equity Shares held on Record Date (Wed, Sep 23, 2020).
The record date for the EIH Ltd Rights Issue is Wed, Sep 23, 2020.
The issue size of EIH Ltd Rights Issue is of 5,37,94,768 equity shares at ₹65 per share aggregating up to ₹349.67 Crores.
The Letter of Offer for EIH Ltd Rights Issue can be downloaded here.

You can apply for EIH Ltd Rights Issue in two ways:

  1. Net Banking (ASBA)
  2. Registrar's Website (R-WAP Facility)

Steps to apply for EIH Ltd Rights Issue using Net Banking (ASBA)

  1. Log in to the net banking account of your bank.
  2. Go to the 'IPO & Rights Issue' section.
  3. Check if the EIH Ltd Rights Issue is available on the list.
  4. Click the Apply button next to the EIH Ltd Rights Issue.
  5. Fill and check your information.
  6. Submit the application.

Steps to apply for EIH Ltd Rights Issue using Registrar's website (R-WAP)

  1. Visit registrar's website
  2. Go to the 'Rights Issue' section
  3. Select EIH Ltd Rights Issue from the dropdown.
  4. Enter Demat Account Number.
  5. Fill the online application form.
  6. Validate and submit the application.
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