Sterlite Industries is set to list its $2 billion (Rs 8,000 crore ) American Depository Shares (ADS) issue, the largest by any Indian company, with the New York Stock Exchange by the middle of this month.
Sources close to the development said the company would list the shares in the week beginning June 18. Road-shows for the issue, which will part-finance its plan to set up a power plant at an investment of Rs 12,500 crore, will begin towards the end of this week.
A team comprising Sterlite executives and representatives of its banks will visit Europe, the US, Hong Kong, Singapore and Japan to sell the issue. Merrill Lynch, Citi, Morgan Stanley and Nomura are bankers to the issue.
They added that the company would sell 125 million ADS under the book-built issue with a minimum price of Rs 531.84. The issue has the option to sell an additional 18.75 million shares, or 15 per cent of the issue, depending on the response.
Read more in The Business Standard article.
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