Rolta India raises $103.50 mn through GDRs

Mumbai, Apr 8: Rolta India Ltd has raised US Dollar 90 million, through the issue of 16,071,429 global depositary receipts (GDRs).

The issue would provide a greenshoe option of US Dollar 13.50 million through the issue of 2,410,714 additional GDRs to be exercised within 30 days by the joint lead managers. With the exercise of this option the total number of GDRs issued will be 18,482,143 and the proceeds shall aggregate to US$ 103.50 million.

Each GDR was priced at US $ 5.60, equivalent to Rs 250 per equity share. The issue was priced yesterday and is expected to be listed by April 18, this year. The GDR price was Rs 250.89 based on the average daily BSE closing price for four weeks ending on the pricing date, a release issued here said.

The GDRs are expected to be admitted to official list of the UK Listing Authority and to be traded on the London Stock Exchange Plc's regulated market listed securities.

UNI