Indiabulls GDR priced at $5.42

Indiabulls Financial Services Ltd on Thursday said it has priced its global depository receipt issue at $5.42 per GDR or Rs 235 per share of Rs 2 each, taking value offering to $130.8 million.

Indiabulls has granted an over-allotment option of up to $19.51 million to Merrill Lynch International. The issue was priced after market trading hours on Wednesday.

Indiabulls' GDR is expected to be listed on the Luxembourg Stock Exchange.

Merrill Lynch International and Citigroup acted as the lead managers for this offering, company said in a release.