Gammon GDRs priced at $9.47

Gammon India has priced its $87 million issue of 91,86,900 global depository receipts (GDRs) at US $9.47 each.

According to a release issued by Gammon to the BSE today, the GDRs (each representing one underlying share of Rs 2 of the company) will be listed on the Luxembourg Stock Exchange and traded on the Euro MTF market.