Kaashyap Technologies Ltd allots GDRs

Kaashyap Technologies Ltd has announced that a meeting of the Committee of Board of Directors of the Company was held on December 27, 2007, to consider and allot Global Depository Receipts (GDRs) aggregating to US$ 1,64,98,750 (app. 16.5 Million US$).

The Committee approved the allotment of 4,92,500 GDRs of US$ 33.50 each amounting to US$ 1,64,98,750 representing 16,25,25,000 equity shares of Re 1 each issued at a price of Rs 4 per share (including Rs 3 premium per share).

The Stock was trading at Rs.6.80, up by Rs.0.32 or 4.94%. The stock hit an intraday high of Rs.6.80 and low of Rs.6.50.

The total traded quantity was 9514222 compared to 2 week average of 11749993.

Source : Equity Bulls

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