Emerald Leisures Board Approves Rs 130 Crore Rights Issue To Shareholders

Board approved rights issue of Rs5 shares for up to 130 Cr to eligible holders on record date to be fixed; price, ratio, timing to be decided later. Formed Rights Issue Committee. Step-up from prior small rights issue and pivot from debt-heavy funding backed by most promoter holding; revives equity route after stalled preferential plan for negative-equity hospitality business. Price, ratio, record date, use of proceeds and timetable undisclosed and subject to approvals; dilution, promoter subscription and debt-service relief unclear until terms emerge.