Gujarat NRE Coke

Gujarat NRE Coke Ltd has informed that, indicating the continuing interest and faith in the fundamentals of the company, cumulative holdings of the Foreign Financial Institutions in the Company is steadily increasing.

The holdings of Foreign Institutional Investors (FIIs) in the shares of the Company has gone up from 5 % in May/June, 2007 to 23.79% last month on account of market purchases made by them as well as upon conversion of Foreign Currency Convertible Bonds (FCCBs) issued by the Company in 2005 and 2006. Accordingly, the Board of Directors in compliance with the Master Circular issued by RBI has passed a resolution consenting to increase in such limit beyond 24% upto the FDI Sectoral cap applicable to the Company.