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.