Syncom Healthcare opens GDR issue

Syncom Healthcare Ltd has announced that the Board of Directors of the Company at its meeting held on August 18, 2010, inter alia, has approved the opening of GDR (Global Depository Receipt) issue for an aggregate amount equivalent to 2.25 Crores equity shares after obtaining the requisite regulatory approvals. The issue price of the said GDRs i.e. for the underlying Equity Shares has been determined at Rs. 43.00 per Equity share as per the amended guidelines and the pricing norms as prescribed under "Issue of Foreign-Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993 as amended vide press Note dated November 21, 2008 No. notified vide Circular dated November 27, 2008 issued by the Ministry of Finance, Government of India.

The stock closed the day at Rs.40.85, up by Rs.0.25 or 0.62%. The stock hit an intraday high of Rs.41.90 and low of Rs.40.30.

The total traded quantity was 41087 compared to 2 week average of 61325.

Source : Equity Bulls

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