Mcleod Russel to issue 99,07,305 shares at Rs.120

Mcleod Russel India 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 November 03, 2006.

Further the Company has approved the issue of 99,07,305 new Equity Shares of Rs 5/- each pursuant to the Issue at the Issue Price of Rs 120/- per Equity Share aggregating to an Issue size of Rs 118,88,76,600/-. The Issue Price is above the floor price calculated in accordance with Clause 13A.3 of the SEBI Guidelines. ICICI Securities Ltd has acted as the Lead Manager and Sole Bookrunner for this Issue.

Source : Equity Bulls

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