Indiabulls GDRs priced at $5.42/GDR

Indiabulls Financial Services has priced its $130.08 million Global Depository Receipts (GDRs) issue at $5.42 (Rs 235) per GDR. Each GDR represents one share of Rs 2 each.

According to a release issued by Indiabulls to the BSE, the company has granted green-shoe option of $19.51 million to Merrill Lynch International, and the GDRs are expected to be listed on the Luxembourg Stock Exchange.