Indiabulls Financial fixes price for GDR at US$13.06

Indiabulls Financial Services Ltd has announced that the Company priced its US$ 275 million GDR offering on the Luxembourg Stock Exchange at US$ 13.06 per GDR. Each GDR represents one equity share of the Company of nominal value Rs 2 each. The book closed on May 09, 2007 and the issue was priced after market hours on May 09, 2007. Goldman Sachs International and Merrill Lynch International are acting as the Joint Lead Managers and the Joint Bookrunners for the offering. The Company has also granted an over-allotment option of up to US$ 25 million, to Merrill Lynch International.

The stock was trading at Rs.566.50, up by Rs.10.85 or 1.95%. The stock hit an intraday high of Rs.600 and low of Rs.557. The total traded quantity was 710948 compared to 2 week average of 2818247.

Source : Equity Bulls

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