Cox and Kings India to issue 5341003 GDRs

Cox and Kings (India) Ltd has announced that pursuant to the resolution passed by shareholders of the Company, the Company has decided to issue 5,341,003 GDRs, each representing one equity share having a par value of Rs. 10 each to be issued by the Company.

The Company approves an equity offer of the GDRs on the terms described in the Offering Circular. The gross proceeds of the offering will be approximately USD 65 Million.

The Company will be issuing 5,341,003 GDRs, each representing one equity share of the Company.

The Price of each GDR will be USD 12.17, which has been determined in accordance with the applicable Indian pricing guidelines for GDRs.

The stock was trading at Rs.559.45, down by Rs.20.65 or 3.56%. The stock hit an intraday high of Rs.606.85 and low of Rs.554.

The total traded quantity was 162547 compared to 2 week average of 250762.

Source : Equity Bulls

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