SEL Manufacturing Company to close $35 million GDR issue

SEL Manufacturing Company Ltd has announced that the Board of Directors of the Company in its meeting held on September 09, 2010 has decided to close the issue of Global Depository Receipts (GDRs) which was opened on September 07, 2010.

Further, the Board of Directors of the Company in the said Meeting held on September 09, 2010 has allotted 3,500,000 Global Depository Receipts (GDRs) (representing 35,000,000 Equity shares of the Company of the face value of Rs. 10/- each) at a price of US $ 10.00 per GDR aggregating US $ 35.00 million.

The stock closed the day at Rs.44.40, down by Rs.0.70 or 1.55%. The stock hit an intraday high of Rs.45.50 and low of Rs.44.25.

The total traded quantity was 3.25 lakhs compared to 2 week average of 6.44 lakhs.

Source : Equity Bulls

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