Financial Daily from THE HINDU group of publications
Wednesday, Aug 17, 2005
Financial Daily from THE HINDU group of publications Wednesday, Aug 17, 2005 |
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Corporate
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Overseas Borrowings Ind-Swift completes $10.6-m GDR issue Our Bureau
New Delhi , Aug. 16 IND-SWIFT Laboratories has completed raising $10.625 million through the issue of 25 lakh Global Depository Receipts (GDRs), each representing one underlying equity share of Rs 10 each. The GDRs will be listed shortly on the Luxembourg Stock Exchange. The GDR was priced at $4.25. The major investors for the GDR are Sloane Robinson, London Ward Ferry Fund, Hong Kong and Goldman Sachs. The company is in the process of completing its first phase of the expansion plans at an investment of Rs 100 crore. Under phase-I it has already operationalised three new manufacturing units while a new R&D centre is expected to be operational by September this year. The Phase-II of the expansion plan again involving another Rs 100 crore is expected to commence in September-October 2005.
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