Rainbow Papers to raise funds through overseas issue

Rainbow Papers Ltd has now announced with reference to the earlier annoucement regarding Outcome of Board Meeting held on October 24, 2009, that the Board of Directors have finalized to raise 1,00,00,000 (one crore) ADR / GDR (wherein one ADR / GDR is equivalent to one Equity Share).

The stock was trading at Rs.111. The stock hit an intraday high of Rs.113 and low of Rs.109.15.

The total traded quantity was 5950 compared to 2 week average of 6867.

Source : Equity Bulls

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