JK Tyre & Industries Rights Issue

JK Tyre & Industries Ltd has informed the market that on the meeting that was held on june 28th 2008 they have come out with some decsion out of which rights issue is also one of the proposal ,
Rights Issue details

1. Issue Particulars: Right Issue of 1,02,64,836 Equity Shares
2. Ratio: 1:3 (One Equity Share for every three Equity Shares held as on the Record Date)
3. Price: Rs 85/- per Equity Share (i.e. Rs 10/- towards face value and Rs 75/- towards
premium per Equity Share)
4. Terms: Full amount of Rs 85/- is payable on application.