Essar Oil allots 2.77 cr shares on underlying GDS
Ruias-led Essar Oil on Tuesday said that it has alloted over 2.77 crore shares on underlying Global Depository Shares (GDS) worth USD 129.418 mn.
By PTI |
MUMBAI: Ruias-led Essar Oil on Tuesday said that it has alloted over 2.77 crore shares on underlying Global Depository Shares (GDS) worth USD 129.418 mn in favour of its overseas depository, The Bank of New York .
The company has issued and alloted the second tranche of 2,77,71,948 shares at a price of Rs 200 a piece in favour of the overseas Depository, The Bank of New York, Essar Oil said in a filing to the Bombay Stock Exchange.
The depository are represented by 1,81,516 GDS aggregating USD 129.418 mn.
The GDS's have been subscribed by the promoter company, Essar Energy Holding, for part financing the expansion of refining capacity and for other general corporate purposes.
Last year the shareholders had approved the issuance of USD 2,000 mn to promoters on preferential basis.
Shares of Essar Oil closed at Rs 178.75, up 1.97 per cent on the BSE.
The company has issued and alloted the second tranche of 2,77,71,948 shares at a price of Rs 200 a piece in favour of the overseas Depository, The Bank of New York, Essar Oil said in a filing to the Bombay Stock Exchange.
The depository are represented by 1,81,516 GDS aggregating USD 129.418 mn.
The GDS's have been subscribed by the promoter company, Essar Energy Holding, for part financing the expansion of refining capacity and for other general corporate purposes.
Last year the shareholders had approved the issuance of USD 2,000 mn to promoters on preferential basis.
Shares of Essar Oil closed at Rs 178.75, up 1.97 per cent on the BSE.
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