Date:28/09/2005 URL: http://www.thehindubusinessline.com/2005/09/28/stories/2005092802681500.htm

Back CESC closes global depository shares offer

Our Bureau

Kolkata , Sept. 27

CESC Ltd has concluded its offer of Global Depository Shares (GDSs), on Tuesday, for $40 million within a day of its launch on Monday.

The offer was made at $5.0437 per GDS comprising one equity share at Rs 222 per equity of Rs 10 each. The price is at a premium of 0.6 per cent to the average closing price of CESC shares for the past four trading days.

A CESC source said that CLSA Asia Pacific Markets and ICICI Securities Inc acted as joint global co-ordinators and joint book runners for this offering. Kotak Mahindra (UK) Ltd acted as the co-lead manager.

CESC will issue 7,930,685 GDS representing about 9.6 per cent of the post-offer equity share capital of the company. The proceeds from the offering will be used primarily for setting up the third 250 MW capacity generating unit at CESC's Budge Budge power station.