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.

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.

HT Image

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.