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              Mahindra Gesco Developers Ltd has announced that the Capital Issue Committee of the Directors of the Company at their meeting held on March 30, 2007 has done allotment of 29,19,000 Equity Shares of Rs 10/- each at a premium of Rs 516/- per equity share to the Promoters of the Company under Chapter XIII of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000.