Date:23/12/2005 URL: http://www.thehindu.com/2005/12/23/stories/2005122303381801.htm

Business - Briefly

Tata Teleservices approves rights issue

MUMBAI: Tata Teleservices Maharashtra plans to raise funds through a rights issue, the Tata group company informed the BSE. The board approved issuing equity shares with a nominal value of Rs. 10 each for cash on a rights basis. It also resolved to keep the issue price within the Rs. 25-27 band for each equity share. A resolution on issuing two equity shares for every 25 existing equity shares held on the record date was also approved, the company said.