Mahindra Gesco to issue 6000000 equity shares

Mahindra Gesco Developers Ltd has announced that the Bid Closing Date pursuant to the proposed issue of equity shares of the Company under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (the "SEBI Guidelines")(the "Issue") is October 04, 2006.

Further the Company has informed that the Company has approved the issue of 6,000,000 new equity shares of Rs 10/- each pursuant to the Issue at the Issue Price of Rs 800/- per equity share aggregating to an Issue size of Rs 4,800,000,000. The Issue Price is above the floor price calculated in accordance with clause l3A.3 of the SEBI Guidelines. Kotak Mahindra Capital Company Ltd., acted as the Global Coordinator and Sole Book Runner for this Issue.

Source : Equity Bulls

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