Essar Oil prices GDS issue at Rs.63

Essar Oil Ltd has announced that on November 28, 2006 the Company has issued and allotted 55,953,324 equity shares of Rs 10/- each (face value) fully paid up at a price of Rs 63.00 per share in favour of the overseas Depository, The Bank of New York, which are represented by 365,708 Global Depository Shares (GDSs) aggregating to US$ 78 million. The GDSs have been subscribed by Promoter Company, Essar Energy Holdings Ltd for funding the Refinery Project.

Source : Equity Bulls

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