City Hotel Extends Deadline for 80% Rights Offering

City Hotel Limited (CITY) has extended the application deadline for its ongoing 80% rights offering. Initially set to close on Ashwin 12, 2082, the issue will now remain open until Ashwin 26, 2082.

The company is issuing 13,192,000 right shares at a ratio of 1:0.80, amounting to Rs. 1.67 Arba. Based on the company’s existing paid-up capital of Rs. 1.67 Arba, its capital will increase to Rs. 3.01 Arba after the adjustment of the proposed right shares.

According to CDSC, a total of 46,754 applicants have applied for 10,00,197 units of rights shares, equivalent to Rs. 10 crore.

Prabhu Capital Limited is the issue manager for this offering. The company had set its book closure date on Shrawan 27, 2082, meaning only shareholders who held shares before that date are eligible to apply.