SEL Manufacturing Company allots GDRs

SEL Manufacturing Company Ltd has announced that the Board of Directors of the Company at its meeting held on May 04, 2010, has decided to open the issue of Global Depository Receipts (GDRs) upto an amount of US$50.00 Million on May 04, 2010.

The said Meeting was adjourned and in the adjourned meeting, it has also been decided to close the GDR issue on May 04, 2010 itself.

Further, the Board of Directors of the Company in its adjourned meeting held on May 04, 2010 has allotted 3,000,000 Global Depository Receipts (GDRs) (representing 30,000,000 Equity shares of the face value of Rs 10/- each) at a price of US$ 15.50 per GDR aggregating US$46.50 million.

The stock was trading at Rs.65.90, down by Rs.1.85 or 2.73%. The stock hit an intraday high of Rs.66.75 and low of Rs.65.55.

The total traded quantity was 121753 compared to 2 week average of 257777.

Source : Equity Bulls

Keywords