Bilcare to open GDR issue

Bilcare Ltd has announced that pursuant to the approval received from the shareholders of the Company at the Annual General Meeting held on September 30, 2009, the Company will open its GDR Issue for subscription on January 06, 2010, which issue will remain open for a period of seven (7) days thereafter.

The Company expects to raise upto US$ 35 million from this offering.

Each GDR will represent one underlying share in the Company.

The stock closed the day at Rs.512.15, down by Rs.18.10 or 3.41%. The stock hit an intraday high of Rs.534.95 and low of Rs.512.

The total traded quantity was 20933 compared to 2 week average of 63760.

Source : Equity Bulls

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