Ruchi Soya raises $60 mn via GDRs

Ruchi Soya Industries yesterday successfully raised $ 60 million through the GDR issue consisting of 8,874,000 GDRs.

According to a release issued by Ruchi Soya to the BSE, the issue opened on 01 March and closed yesterday. Each GDR represents one underlying share in the company, and was priced at $ 6.7613 per share (equivalent to Rs 300 per share).

"The GDRs will be listed on the Luxembourg Stock Exchange and traded on the Euro MTF market. The GDRs were placed through the book building exercise. ICICI Securities acted as the sole bookrunner on this transaction. SSKI acted as the Indian advisor to the transaction.", the release added.