Bihar Tubes raises $10 mln through GDR Issue

New Delhi, Jun 18 (UNI) Bihar Tubes Ltd today said it has successfully completed the offering of Global Depository Receipts (GDR) aggregating 1,00,00,080 dollars.

''We have successfully completed the offering of GDR aggregating 1,00,00,080 dollars at 6.80 dollars per GDR to international investor,'' a company statement said.

The closing date for the issue was today and consequently, the company has allotted 1,470,600 GDR representing 2,941,200 equity shares, par value of Rs 10 each in favour of the subscribers.

These GDRs shall be admitted to listing on the official list of the Luxembourg Stock Exchange and to trading on the Euro MTF Market.

Elara Capital PLC, London was the sole Lead Manager Global Coordinator and Book Runner to the GDR Issue of the company, it added.

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