Videocon Industries Ltd to issue GDRs through Private Placement

Videocon Industries Ltd has decided to issue 15,700,000 Global Depository Receipts amounting to US$ 45.216 million ("GDR") representing 15,700,000 equity shares at a price of US$ 2.88 per GDR, equivalent to approximately Rs. 181.61 per equity share, to LLIC S.a.r.l., on a private placement basis.

Application will be made for the GDRs to be listed on the Luxembourg Stock Exchange.

Shares of VIDEOCON INDUSTRIES LTD. was last trading in BSE at Rs.165.45 as compared to the previous close of Rs. 158.75. The total number of shares traded during the day was 130377 in over 4625 trades.

The stock hit an intraday high of Rs. 177.2 and intraday low of 160.35. The net turnover during the day was Rs. 21841015.

Source : Equity Bulls

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