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Corporate
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Rights Issue
Gujarat NRE announces rights issue
Kolkata, Jan. 16
Gujarat NRE Mineral Resources Ltd, most of whose
shares are held by its promoters, today announced a
rights issue of 10,00,00,000 equity shares for existing
shareholders of the company. No ratio has been fixed for
the rights issue and existing shareholders can apply for as
many shares as they want subject to an upper limit of 10
lakh shares per shareholders. According to a company
release, the issue opened on January 14 and would close
on January 31. The issue has been priced at Rs 5,
including a premium of Rs 4 per share. Gujarat NRE
Mineral Resources Ltd, a Gujarat NRE Group company,
owns two oil prospecting blocks in the Canning Basin
region of West Australia. - Our Bureau
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