After a repeated attempt by Indian Hotels Limited to buyout the Orient-Express Hotels, the operator of luxury hotels, cruise and train services in the West, has rejected the offer stating ‘cheap’ valuation as a reason.
Tata group owned Indian Hotels had bid a 40% share premium price of $12.63 per share or a total consideration of around $1.86 Bn last month.
The bid was made in conjunction with the chairman of Ferrari, Luca Cordero di Montezemolo, who had agreed to invest $100 Mn for a minority stake in the newly combined entity.
Hindusthan National Glass is planning to raise R300 Cr. The company’s board meeting held on Tuesday has approved to issue new equity shares of face value of Rs. 2/- each at a premium, issue size aggregating, upto R300 Cr on Rights/Preferential basis, either as direct equity or through a convertible ...