Essar Oil issues GDS aggregating to US$ 225 million

Essar Oil Ltd has announced that the Company has, on May 28, 2010, issued and allotted 71,292,951 equity shares of Rs. 10/- each (face value) fully paid up at a price of Rs. 144/- per share in favour of the Overseas Depository, The Bank of New York Mellon, being the underlying shares for the issue of 465,967 GDSs aggregating to US $ 225 million. The GDSs have been subscribed by Promoter Company, Essar Energy Holdings Limited.

The stock closed the day at Rs.121.90, up by Rs.2.40 or 2.01%. The stock hit an intraday high of Rs.123 and low of Rs.120.35.

The total traded quantity was 690798 compared to 2 week average of 565705.

Source : Equity Bulls

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