Indiabulls Real Estate prices its GDR at US$ 10.32

Indiabulls Real Estate Ltd (IBREL) has announce that the company priced its US$ 360 million GDRs offering on the Luxembourg Stock Exchange at US$ 10.32 per GDR. Each GDR represents one equity share of the Company of nominal value Rs 2 each.

The book closed on July 03, 2007 and the issue was priced after market hours on July 03, 2007. Merrill Lynch International is acting as the sole underwriter for the offering. IBREL has also granted an over-allotment option of up to US$ 40 million to Merill Lynch International.

The stock was trading at Rs.438.25, up by Rs.3.25 or 0.75%. The stock hit an intraday high of Rs.443.70 and low of Rs.426. The total traded quantity was 963551 compared to 2 week average of 2396185.

Source : Equity Bulls

Keywords