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BRIEF-Sun to raise 1.865 billion rupees
April 26, 2017 / 5:47 AM / 5 months ago

BRIEF-Sun to raise 1.865 billion rupees

April 26 (Reuters) - Sun Ltd:

* Says decided to raise 1.865 billion rupees

* Says proposed rights issue, for amount of 746.1 million rupees, of 19,129,924 new ordinary shares, in the proportion of 0.1511 new ordinary share for every ordinary share held, at an issue price of 39 rupees per share

* Proposed private placement, for an amount of 1.12 billion rupees to di cirne hlt ltd of 28,684,380 new ordinary shares at an issue price of 39 rupees per share

* Says CIEL Limited has indicated that intends to subscribe for pro-rata share in the rights issue for total amount of 447.35 million rupees

* Post completion of transaction, CIEL will remain the majority shareholder of sun with 50.10% of the share capital Source: bit.ly/2ouwCXW Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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