Nagarjuna Construction up on GDR pricing success
DALAL STREET SPIKES
| This was following the announcement by the company that it has successfully priced its US$ 10.5 crore (Rs 479 crore) Global Depository Receipts (GDR) issue at US$ 5.11 per GDR each of which represents one equity share of the company. |
| The GDRs will be traded on the Euro MTF Market of the Luxembourg Stock Exchange, the IOB platform of the London Stock Exchange and on Nasdaq's PORTAL market. |
| Proceeds from the offering will be used primarily for investment in BOT and BOOT projects and for other purposes including the repayment of short term debt and capital expenditure. |