Jindal May Raise $100 Million

The media had reports that Jindal Drilling And Industries Limited may list its Singapore SPVs Discovery and Virtue Drilling and raise nearly $ 100 million.

The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Jindal Drilling And Industries Limited has vide its letter inter-alia stated, "We would like to inform you, that some of the investment bankers inquired about the delivery of rigs in our Singapore JVs and future fund raising plans in these companies. In reply it was informed that the said Rigs are expected to be delivered during the 3rd and 4th quarter of this financial year. To unlock the value, the Singapore JVs may explore the opportunities in future for raising funds and listing of their securities in Singapore." -- www.nseindia.com

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