Surya Pharmaceutical raises $25 million through GDRs

Surya Pharmaceutical Ltd has announced that the Board of Directors of the Company at its meeting held on October 12, 2010 successfully closed the subscription list for issue of GDR of USD 25 million. The issue has been fully subscribed.

The Total GDR issue Size was $ 25 million and the Floor Price (As fixed in Board Meeting held on October 08, 2010) is Rs. 270/08.

The Price of Allotment (Per Eq Share) is Rs. 290.00 and $ VS. Rupees (RBI Rate) - $ 1: Rs. 44/74.

The $ Price for Allotment (C/D) is $ 6.482. The GDR Ratio is 01:10 and the GDR Price is $ 64.819. The No of GDR's Issued (A/G) is 385690.

The stock closed the day at Rs.274.50, up by Rs.4 or 1.48%. The stock hit an intraday high of Rs.281 and low of Rs.271.50.

The total traded quantity was 0.83 lakhs compared to 2 week average of 0.68 lakhs.

Source : Equity Bulls

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