Chromatic India concludes GDR Placement

Chromatic India Ltd has announced that the meeting of the Board of Directors was held on October 22, 2010 and successfully concluded placement of 4,200,000 Global Depository Receipts at US$ 8.52 per Global Depository Receipt (Representing 37,800,000 Equity Shares of Rs. 10/- each) totaling to USD 35.78 mn.

Further the Board has also approved and allotted 4,200,000 Global Depository Receipt and 37,800,000 underlying Equity Shares of Rs. 10/- each representing the said GDRs. The GDRs will be listed on the Luxembourg Stock Exchange.

After the allotment of underlying equity shares, the paid up equity capital of the Company stands increased from Rs. 33,24,61,000/- to Rs. 71,04,61,000/ comprising of 7,10,46,100 equity shares of Rs. 10/- each.

The stock was trading at Rs.62.15, up by Rs.2.95 or 4.98%. The stock hit an intraday high of Rs.62.15 and low of Rs.61.80.

The total traded quantity was 36746 compared to 2 week average of 8830.

Source : Equity Bulls

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