Ratan Tata-led Indian Hotels Co Ltd said on Thursday its committee of directors has approved a preferrential allotment of 36 million shares at Rs103.64 each to Tata Sons Ltd.
Indian Hotels will also allot 48 million warrants at the same price to Tata Sons after April 1, 2011. Each warrant would entitle Tata Sons to subscribe one ordinary share of Indian hotels, it said.
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