TTML to issue 1.81million shares
August 15, 2007
TTML to issue 1.81 million shares Tata Teleservices Maharashtra Limited (TTML) will convert foreign currency convertible bonds (FCCBs) worth $1 million into 1.81 million equity shares, to be issued to investors. The finance committee of the board of directors of TTML has approved the issue of shares at Rs 24.49 per share (that is, a premium of Rs 14.49 on a Rs 10 share). Following the allotment, the Tata Group's holding in TTML will be reduced to 65.75 per cent.
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