Hinduja Foundries GDR Issue opens, to raise US$15 Million

Hinduja Foundries Ltd has announced that pursuant to the approval received from the shareholders of the Company of the Extra Ordinary General Meeting held on January 05, 2008. the Company has scheduled to open its GDR Issue for subscription on April 14, 2008 and Close the GDR Issue on or before April 21, 2008.

The Company expects to raise US$ 15 million from this offering.

Three GDRs represent one underlying share in the Company. The GDRs will be listed on the Luxembourg Stock Exchange.

Source : Equity Bulls

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