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Our Bureau

Mumbai , Oct. 11

Trent Ltd, a Tata Group company, has decided to raise about Rs 285 crore through a preferential issue of shares to promoters with attached warrants and a right issue of shares. The decision was taken at the board meeting held on Tuesday.

The quantum of the preferential issue of equity shares would not exceed 5 per cent of the existing equity share capital, said a company statement issued on the BSE. The preferential issue size would be between Rs 100 crore and Rs 120 crore.

After the issue of preferential equity shares, the company will issue equity shares on a rights basis to the existing shareholders in the ratio 1:5 at a price of Rs 500 per share. The issue size is estimated to be in the range of Rs 152 crore and Rs 165 crore.

The company's shares traded at Rs 861.45, up by Re 1 or 0.12 per cent, on the BSE on Tuesday.

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