Winsome Yarns to issue 199412500 shares under GDR

The Board of Directors of Winsome Yarns Ltd at its meeting held on March 24, 2011 has decided to issue 199,412,500 equity shares underlying 1,994,125 Global Depository Receipts ("GDRs") at the rate of US$ 6.64 per Global Depository Receipt ("GDR"). Each GDR representing 100 underlying equity shares of the Company of face value of Re. 1/- each. The Company expects to raise US$ 13.24 million from this offering. The Company opens its GDR issue for subscription on March 24, 2011 and will be closed on March 28, 2011 or as soon as the issue is fully subscribed.

The stock was trading at Rs.2.65, up by Rs.0.11 or 4.33%. The stock hit an intraday high of Rs.2.65 and low of Rs.2.47.

The total traded quantity was 0.20 lakhs compared to 2 week average of 1.54 lakhs.

Source : Equity Bulls

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