Jindal Cotex concludes GDR issue

Jindal Cotex Ltd has announced that the Board of Directors of the Company at its meeting held on June 30, 2010 has concluded the placement of 5,000,000 Global Depository Receipts / Shares at US$ 7.75 per Global Depository Receipts / Shares (Representing 20,000,000 equity shares of Rs. 10/-) each totaling USD 38.75 million.

Accordingly, the board of directors in its meeting held on June 30, 2010 have approved and allotted 5,000,000 Global Depository Receipts / Shares and 20,000,000 underlying equity shares of Rs. 10/- each representing the said GDR / GDS. The GDR / GDS will be listed on Luxemburg Stock Exchange.

The stock was trading at Rs.121.10, up by Rs.2.30 or 1.94%. The stock hit an intraday high of Rs.121.75 and low of Rs.115.

The total traded quantity was 1736513 as compared to 2 week average of 805454.

Source : Equity Bulls

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