Mcleod Russel to issue shares through QIP for US $30 million

Mcleod Russel India Ltd has announced that in connection with the proposed issue of shares by way of Qualified institutional Placement for an amount not exceeding Rupee equivalent of US $ 30 million, the Board of Directors of the Company at its meeting held on October 10, 2006, has approved the Draft Placement Document and appointed ICICI Securities Ltd, a Merchant Banker registered with the Securities & Exchange Board of India (SEBI) as the Lead Manager and sole Book Runner to the QIP issue.

Source : Equity Bulls

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