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Corporate - Overseas Borrowings


Madhucon GDR issue

Our Bureau

HYDERABAD: Madhucon Projects Ltd, the Hyderabad-based infrastructure company, has announced the opening of its GDR issue for subscription on February 16. The issue will close on February 21.

The company informed the BSE that pursuant to the approval received from the shareholders at the extraordinary general meeting held on October 24, 2005, it has gone in for the issue. Madhucon Projects expects to raise up to $60 million from this offering.

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