Bihar Tubes allots GDRs

Bihar Tubes Ltd has announced that pursuant to the Over-Allotment Option in terms of the Offering circular dated June 18, 2008 issued by the Company, the Company successfully completed the offering of Global Depository Receipts aggregating US$ 9,999,910 at the rate of US$ 6.80 per Global Depository Receipt to International Investor. Consequently, the Company has allotted 1,470,575 Global Depositary Receipts representing 2,941,150 Equity Shares, par value of Rs 10/- each in favor of the subscribers.

These GDRS shall be admitted to listing on the Official List of the Luxembourg Stock Exchange ['LuxSE'] and to trading on the Euro MTF Market ['Euro MTF'].

Elara Capital PLC, London has been the sole Lead Manager, Global Coordinator and Book Runner to the GDR Issue of the Company.

Source : Equity Bulls

Keywords