Gujarat NRE Coke today said its Australian subsidiary India NRE Minerals will list on the Australian Securities Exchange (ASX) on 10 July, following a 15 million Australian dollar initial public offer.
The low-ash metallurgical coke maker had received subscription for 43.68 million shares, against 30 million shares offered, at 50 cents each. The shares would be listed on the ASX on 10 July, Gujarat NRE Coke said in a filing to the Bombay Stock Exchange (BSE).
The current issue is being floated to raise funds to ramp up production capacity to over four million tonnes per annum from one MTPA at present.Gujarat NRE Coke would continue to hold more than 90% stake in India NRE Minerals Ltd even after the public offer.
Read more in The Livemint article.
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