Kaashyap Technologies to allot GDRs

IRIS
December 28, 2007

The committee of board of directors of Kaashyap Technologies, at its meeting held on Dec. 27, 2007, approved allotment of 492,500 GDRs of USD 33.50 each amounting to USD 16,498,750 representing 162,525,000 equity shares of Re 1 each issued at a price of Rs. 4 a share (including Rs. 3 premium a share).

The main business of the company is imparting computer training by setting up their own or franchise computer training institutes in India and abroad, to carry business to researchers, developers, exporters and distributors of all kinds of software, including packaged and customized software and to deal in computers, computer peripherals, energy conversation equipment, office automation products, microprocessors.

Shares of the company were last trading up Rs. 0.32, or 4.94%, at Rs. 6.80. The total volume of shares traded at the BSE was 9,215,694. (11.24 a.m., Friday)