Resurgere Mines & Minerals opens Rs.300 crores GDR issue

Resurgere Mines & Minerals India Ltd has announced that GDR Committee of the Board of Directors of the Company, at its meeting held on November 24, 2010, inter alia, has approved the opening of GDR (Global Depository Receipt) issue for an aggregate amount up to INR 300 Crores after obtaining the requisite regulatory approvals. The minimum issue price of the said GDRs i.e. for the underlying Equity Shares has been determined at Rs. 1.66/- per Equity share as per the amended guidelines vide circular dated November 27, 2008 issued by the Ministry of Finance, Government of India.

The stock was trading at Rs.1.59, up by Rs.0.09 or 6%. The stock hit an intraday high of Rs.1.59 and low of Rs.1.49.

The total traded quantity was 36.47 lakhs compared to 2 week average of 69.67 lakhs.

Source : Equity Bulls

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