Dish TV India prices GDR Offering at $854.5

Dish TV India Ltd has announced that the Issue Committee of Directors of the Board of Directors of the Company at its meeting held on November 23, 2009 has approved the pricing of the GDR issue. The relevant date for pricing of the issue is November 23, 2009 as per the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipts Mechanism) Scheme, 1993, as amended.

The issue price have been fixed at US$854.5 per Global Depositary Receipt ("GDR"), representing 1,000 underlying equity share of the company of face of Re. 1 each, be and is hereby determined and approved in relation to the issue of 117,035,000 equity shares representing 117035 GDRs.

The stock was trading at Rs.41.05, up by Rs.0.70 or 1.73%. The stock hit an intraday high of Rs.41.95 and low of Rs.40.25.

The total traded quantity was 1166294 compared to 2 week average of 2732185.

Source : Equity Bulls

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