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              Kaashyap Technologies Ltd has announced that the meeting of the Committee of Board of Directors of the Company held on July 02, 2007, has approved the allotment of 125,000 GDRs of US$ 20 each amounting to US $ 2.5 millions representing 41,250,000 Equity shares of Re 1 each issued at the price of Rs 2.50 per share.