Tata Tele to issue rights at Rs 25-27/shr

The board of directors of Tata Teleservices (Maharashtra), which met today, approved a proposal to issue rights share in the ratio of 2:25 i.e two rights shares for every 25 shares held on the record date.

According to a release issued by the company to the BSE today, the rights issue will be priced at not less than Rs 25 and not more than Rs 27 per share of Rs 10 each.

"The board has constituted a committee of directors to determine the issue price per share, the record date and other incidental matters required for the issue and take all steps necessary to implement the decision," the release added.