Thursday, August 04, 2005

Indiabulls prices GDR at $5.42

Indiabulls Financial Services Ltd on Thursday said that it has priced its Global Depository Receipt (GDR) issue at $5.42 per GDR or Rs 235 per share of Rs two each, taking value offering to $130.8 million. Indiabulls has granted an over-allotment option of up to $19.51 million to Merrill Lynch International. The issue was priced after market trading hours yesterday. Indiabull's GDR is expected to be listed on the Luxembourg Stock Exchange. Merrill Lynch International and Citigroup acted as the lead managers for this offering.