Gujarat NRE Minerals raises raisies AUD 50 million additional capital

Kolkata - December 7, 2009: The Board of Directors of Gujarat NRE Minerals Ltd., the Australian subsidiary of Gujarat NRE Coke Ltd advised that it has received irrevocable commitments for placement of 77 million shares at AUD 0.65 per share to raise gross proceeds of AUD 50,050,000 (Placement).

This Placement was for Australian and International Institutional Investors.

Mr Arun Kumar Jagatramka, Chairman of Gujarat NRE Minerals Ltd said "this capital raising is a major step in creating further liquidity in Gujarat NRE Mineral Ltd's shares and we are delighted with the support we have received from Australian and International Investors".

The GUjarat NRE Coke stock was trading at Rs.65.25, down by Rs.0.65 or 0.99%. The stock hit an intraday high of Rs.67.40 and low of Rs.64.50.

The total traded quantity was 469405 compared to 2 week average of 732068.

Source : Equity Bulls

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