Mac Hotels Ltd. to Raise Funds through Preferential Issue: Key Details

Mac Hotels Ltd. has announced plans to raise funds through a preferential issue of equity shares and convertible warrants. The Board of Directors has approved the proposal to increase the authorized share capital from Rs. 9,00,00,000 to Rs. 18,00,00,000, and to create, issue, offer, and allot up to 48,00,500 equity shares and 73,68,712 convertible warrants. The equity shares will be issued at a price of Rs. 45 per share, including a premium of Rs. 35 per share, and the warrants will be issued at a price of Rs. 45 per warrant. The funds raised will be used for business expansion and other general corporate purposes.