November 22, 2008

Bihar Tubes completes offering of GDR worth USD 10 million

Bihar Tubes Limited informed BSE that it has successfully completed the offering of global depository receipts aggregating USD 10,000,080 at the rate of USD 6.80 per global depository receipt to international investor.

The closing date for the issue is June 18th 2008. Consequently, Bihar Tubes has allotted 1,470,600 global depositary receipts representing 2,941,200 equity shares, par value of INR 10 each in favor of the subscribers.

These global depository receipts shall be admitted to listing on the official list of the Luxembourg Stock Exchange and to trading on the Euro MTF Market.

Elara Capital PLC London has been the sole lead manager global coordinator and book runner to the GDR issue of the company.