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Emerald Leasing Finance to issue rights shares

India's Emerald Leasing Finance and Investment Co. Ltd. will issue 5,998,650 equity shares in a rights issue to raise 59.99 million rupees.

The company will issue the shares to existing shareholders at a ratio of 197 shares for every 100 shares held, according to a Dec. 19 document. The issue price is 10 rupees per share.

The issue opens Dec. 31 and closes Jan. 21, 2019.

Emerald Leasing Finance is a non-banking financial company registered with the Reserve Bank of India.

As of Dec. 19, US$1 was equivalent to 70.28 Indian rupees.