India Cements begins $100 million GDR road-show in NY
Cement major India Cements Ltd has commenced the road-shows for Global Depository Receipts issue in New York on a 'good note' with officials expressing confidence of mobilising the target of $115 million by October 14.
A team of top company officials headed by its Chairman, Mr N Srinivasan on their first halt in New York yesterday received good response from international investors including the NRIs, company sources said here today.
The team will proceed to London, Hong Kong and Singapore, before returning to India on October 17. The sources said that they expect to mobilise the required funds by October 14.
The GDR issue, lead managed by ABN AMRO and the Deutsche Bank will be listed on the Luxembourg Stock Exchange.
The initial size of the GDR issue was set at $100 million, with a cushion to add another $15 million as 'green-shoe option.'
The sources expressed confidence of achieving this target, going by the initial response in New York. The funds would be utilised for its expansion programmes, already in the pipeline, they said.
A team of top company officials headed by its Chairman, Mr N Srinivasan on their first halt in New York yesterday received good response from international investors including the NRIs, company sources said here today.
The team will proceed to London, Hong Kong and Singapore, before returning to India on October 17. The sources said that they expect to mobilise the required funds by October 14.
The GDR issue, lead managed by ABN AMRO and the Deutsche Bank will be listed on the Luxembourg Stock Exchange.
The initial size of the GDR issue was set at $100 million, with a cushion to add another $15 million as 'green-shoe option.'
The sources expressed confidence of achieving this target, going by the initial response in New York. The funds would be utilised for its expansion programmes, already in the pipeline, they said.
posted by Sensex-Blog Admin at 8:05 AM
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