Sbi Gdr Priced At 5.12% Premium

Each GDR, consisting of two underlying shares of SBI, has been priced at $14.15.

The pricing of the issue took place in New York yesterday.

The SBI, however, did not exercise the 15 per cent greenshoe option. Instead, it has retained $19.98 million as against the earlier plan of US $ 50 million over and above the issue size of $350 million.

"The total issue size has been restricted to $369.98 million as we wanted to retain the FIIs holding within the 20 per cent limit," M G Bhide, SBI managing director said.

The 5.12 per cent premium was charged over the average closing price of the SBI scrip on the NSE and BSE.

 

The entire portion will be placed by October 10 and the receipts will be listed on London Stock Exchange.