Sujana Metal Products raises $30 million

Sujana Metal Products Ltd has announced that the Management Committee of the Board of Directors of the Company at its meeting held on December 23, 2009, has decided to open the issue of Global Depository Receipts (GDRs) to all extent of US$ 30.00 Millions on December 23, 2009.

Further the Company has informed that the Meeting was adjourned and in the adjourned meeting, it has also been decided to close the GDR Issue on December 23, 2009 itself.

Accordingly the Company has opened and closed the GDR issue upto US$ 30.00 Millions on December 23, 2009.

Further the Company has informed that the Management Committee in its adjourned meeting held on December 23, 2009 has allotted 5263150 Global Depositary Receipts (GDRs) (representing 52631500 equity shares of Rs. 5/- each) at a price of US$ 5.70 per GDR.

The stock was trading at Rs.26.20, up by Rs.0.65 or 2.54%. The stock hit an intraday high of Rs.27.35 and low of Rs.25.75.

The total traded quantity was 812074 compared to 2 week average of 546796.

Source : Equity Bulls

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