Hindutan Oil Exploration plans rights issue | india | Hindustan Times
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Hindutan Oil Exploration plans rights issue

The company plans to raise Rs 1.5 bn from rights issue of one share for every three held at Rs 76 per share.

india Updated: Aug 09, 2006 16:13 IST

Hindustan Oil Exploration Co Ltd said on Wednesday its board approved a rights issue of one share for every three held at 76 rupees per share.

The company, in which UK's Burren Energy holds a 26.1 percent stake, plans to raise 1.5 billion rupees from the issue.

Hindustan Oil shares rose 6.2 percent to 124.25 rupees in a firm Mumbai market.