BSEL Infrastructure Closes GDR Issue

BSEL Infrastructure Realty Ltd has announced that the GDR Committee of the Company has closed Global Depositary Receipts (GDRs) issue and handed over the Share Certificate to the Custodian i.e., ICICI Bank Ltd on December 27, 2007 amounting to US$ 35.30 Million.

The Details of the issue are as under: Total number of shares underlying GDRs 21,472,020 Equity Shares.
Total Number of GDRs issued for the above Equity Shares 2,147,202.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQGM:RODM) acted as the Lead Manager for the issue and Fortress Financial Services Ltd., a Mumbai based Investment Banking Group acted as the Advisor to the Company. The Company has granted an over allotment option on to the Lead Manager upto US$ 4.70 Million with the time period to be exercised within 30 days from the closing on December 27, 2007.

Source : Equity Bulls

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