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MUMBAI: Dwarikesh Sugar Industries, an integrated sugar manufacturer, has successfully raised $12 million through the issue of 30-lakh Global Depository Receipts (GDRs). The GDRs will be listed on the Luxembourg Stock Exchange.

RP&C International Inc and RP&C International Ltd acted as lead managers on this transaction. Enam Financial Consultants Pvt. Ltd acted as special advisors to the issue and Rajani Associates acted as legal advisors. Mr G.R. Morarka, Chairman and Managing Director, Dwarikesh Sugar, "The positive response to the issue reflects the confidence that global investors have in the company and its position in the Indian sugar industry.''

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