Karuturi Global closes GDR issue

Karuturi Global Ltd has announced that the Board of Directors of the Company at its meeting held on October 21, 2010, inter alia, has confirmed the successful closure of the GDR issue.

The Board issued and allotted 35,100,000 equity shares of Re. 1 each to enable the issuance of 11.7 Million Global Depository Receipts. Each GDR represents 3 under laying equity shares of Rs. 1 each of the Company and each GDR is issued at an offer price of USD 1.38.

The GDR's are proposed to be listed in Singapore Stock Exchange.

The stock was trading at Rs.38.10, down by Rs.0.05 or 0.13%. The stock hit an intraday high of Rs.38.60 and low of Rs.37.

The total traded quantity was 45.40 lakhs compared to 2 week average of 192.56 lakhs.

Source : Equity Bulls

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