Dr Reddy's ADS priced at 3% discount

Dr Reddy's Laboratories today announced the pricing of the public offering of 12.5 million American Depositary Shares (ADS) at $16 per ADS. The ADS price offered is at 2.7% discount as compared to the company's ADR close of $16.45 on Wall Steet yesterday. The offering is  to close on November 22, 2006.

According to an official release issued by the company to the BSE today, it had filed papers relating to a proposed offering of up to 13.5 million ADSs with the US Securities and Exchange Commission on November 13, 2006.