Marg Constructions allots 1,351,500 GDRs at US$11.10

Marg Constructions Ltd Committee of Directors (CoD) for GDR Issue at its meeting held on February 28, 2007 has allotted 1,351,500 numbers of Global Depository Receipts each at a price of US$ 11.10 each aggregating to US$ 15.0016 million.

The company retained an option for Global Depository Receipts under Green Shoe Option for an amount of US$ 5 million.

The CoD also discussed to raise an amount upto US$ 30 million through Foreign Currency Convertible Bonds in place of Global Depository Receipts.

Source : Equity Bulls

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