Hinduja Foundries has successfully raised US$ 15 million through the GDR issue consisting of 7,142,856 GDRs। Three GDRs represent one underlying equity share in the company. The issue opened on 14 April 2008 and will close an 25 April 2008. Each GDR is priced at US $2.10.
The company has allotted 23,80,952 equity shares of Rs 10 each in favour of The Bank of New York, the Depository as underlying shares for the aforesaid GDRs.
The company made this announcement during the trading hours today, 25 April 2008.
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