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Thursday, Jan 27, 2005

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HDFC Bank allots additional ADS

Our Bureau

Mumbai , Jan. 26

HDFC Bank Ltd has informed the Bombay Stock Exchange that the greenshoe option in respect of the issue of American Depository Shares (ADS) has been exercised by the underwriter for allotment of additional 9,96,700 ADS at $39.26 per ADS.

The bank has accordingly allotted 29,90,100 underlying Indian equity shares of the face value of Rs 10 each.

Each ADS comprises of three underlying equity shares of the bank.

HDFC Bank Ltd has priced its public offering of 66.44 lakh ADSat $39.26 per ADS and expected to raise $253.4 million through the issue.

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