Kaashyap Technologies to issue GDRs

Kaashyap Technologies Ltd has announced that the Meeting of the Committee of Board of Directors (CoD) of the Company held on May 25, 2007, to consider and allot Global Depository Receipts (GDRs) aggregating to US $ 6 millions.

The Committee approved the allotment of 300,000 GDRs of US$ 20 each amounting to US $ 6 millions representing 99,000,000 Equity shares of Re 1 each issued at the price of Rs 2.50 per share.

The stock closed on Friday at Rs.2.60, down by Rs.0.07 or 2.62%. The total traded quantity was 144640 compared to 2 week average of 246569. The stock hit an intraday high of Rs.2.80 and low of Rs.2.54.

Source : Equity Bulls

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