The company on Tuesday informed the Bombay Stock Exchange that it has filed a shelf registration statement on Form F-3 with the US Securities and Exchange Commission relating to the proposed ADS offering.
The ADS offer of 13.5 million shares excludes the underwriter's over-allotment option and the company would file a prospectus supplement in due course of time, it added. However, there was not much information regarding the terms and conditions of the proposed ADS offering.
The company said in its F-3 registration statement that it may offer, from time to time, ADS outside India, including in the United States and each ADS represents one equity share.
The price of the ADS would be determined by reference to the prevailing market prices of the company's equity shares. The ADSs would be traded on the New York Stock Exchange, under the ticker symbol 'RDY'.
On November 9, the closing price of our equity shares as reported on the BSE was Rs 773.30 and Rs 773.35 on the NSE, and $17.22 on the NYSE, it added. Each ADS represents one equity share of par value Rs 5 per share.
The net proceeds from the issue, unless otherwise specified in the prospectus, would be used for general corporate purposes, which may include geographic expansion, potential acquisitions of companies and technologies, capital expenditures for increasing production capacities and investments in its subsidiaries or joint ventures, it said.