Tricom's GDR issue closes

Mumbai, May 12 (UNI) Tricom India Ltd company, specialising in non voice business process outsourcing (BPO), has successfully closed the Global Depository Receipt issue and completed the allotment on May 4.

Tricom has issued 12,20,000 GDRs, each representing one equity share of Rs ten each, amounting to US dollar (USD) 5.026 million at a price of USD 4.12 per GDR. Post GDR issue, the paid up equity share capital of the company has increased from 4.52 crore to Rs 5.74 crore.

Tricom's GDRs were listed on Luxembourg Stock Exchange on May 5.

In a statement here today, Tricom India Ltd Mangaing Director Chetan Kothari said, ''The prosceeds from the current GDR issue will be utilised for the expansion and acquisition plans.'' UNI AR SSS SKB2008