Cipla raises USD 170 million through GDR route

Wednesday, April 12, 2006, 17:34 [IST]

Mumbai, April 12 (UNI) Pharma major Cipla has successfully raised approximately USD 170 million through the issue of 1,10,46,310 Global Depository Receipts (GDRs).

Informing the BSE, the company said that each GDR was priced at USD 15.39 and represents one underlying share and will be listed on the Luxembourg Stock Exchange.

The GDRs were placed through a book building exercise. In relation to the aforesaid, the company has entered into a purchase agreement with CLSA Singapore Pte Ltd and Kotak Mahindra (International) Ltd.

CLSA Singapore Pte Ltd and Kotak Mahindra (UK) Ltd acted as Joint Global Co-ordinators and Joint Book Runners for this offering.

As per the conversion structure, each GDS represents one share of the company. Underlying shares are to be listed on the Bombay Stock Exchange Ltd and the National Stock Exchange of India Ltd.

UNI SN KU AW1703

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