Usha Beltron floats 11.38 mn GDR issue

CALCUTTA, AUG 25: Usha Beltron Ltd, the flagship of the Usha Martin group owned by the Jhawars, has completed the placement of 35,00,000 global depository receipts GDRs at a price of 3.25 each, according to a release of the Calcutta-based company.

The company8217;s proposed hiving off of its knowledge-based business into a separate company 8212; Usha Martin Infotech Ltd 8212; is awaiting the approval of the Calcutta high court.