Brushman India closes GDR Issue Successfully

Brushman India Ltd has announced that the Company has successfully closed its Global Depositary Receipts (GDRs) issue of USD $ 16 Million by way of allotment of 5,213,300 Global Depositary Receipts (GDRs) of US$ 3.07 each for an amount aggregating of US$ 16.00 Million (inclusive of an Over-allotment Option of 1,303,300 Global Depositary Receipts (GDRs) in one or more tranches of US$ 3.07 each for an aggregate amount of US$4 Million). Each GDR represents 1 (one) equity share of the Company at par value of Rs 10 (ten) each.

The GDR's are to be listed on Official List of the Luxembourg Stock Exchange (the "LuxSE") subject to the terms and conditions specified in the Offering Circular dated July 31, 2008.

Source : Equity Bulls

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