Kemrock Industries opens GDR issue

The "FCCBs & GDRs ISSUE COMMITTEE" of Directors of Kemrock Industries and Exports Ltd, at its meeting held on December 07, 2011, considered and approved the opening of the issue of Global Depositary Receipts (GDRs) on December 07, 2011.

The Board fixed the price for underlying Equity Shares at Rs. 533.89 per Equity Share; and the ratio for conversion of GDRs into Equity Shares at 1:1 (i.e., for every 1 GDR, 1 new Equity Share will be issued) and the GDRs Issue size to be of US$ 30 million with a right to retain over subscription upto an additional US$ 10 million of GDRs.

The stock was trading at Rs.516.55, up by Rs.8.80 or 1.73%. The stock hit an intraday high of Rs.521.90 and low of Rs.515.

The total traded quantity was 0.12 lakhs compared to 2 week average of 0.24 lakhs.

Source : Equity Bulls

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