Dr Reddy's to offer additional ADS

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Dr Reddy's Laboratories Ltd has announced that it would offer an additional 18-lakh American Depositary Shares (ADS) to the underwriters at a public offer price of $16 per ADS.

The decision is pursuant to the exercise of the over-allotment option that the company had granted to the underwriters in a previously announced offering completed on November 22, Dr Reddy's informed the stock exchanges.

A total of 1,43,00,000 ADS have been issued under the offering (including this issuance). On November 16, the company announced the pricing of the public offering of 1,25,00,000 ADS (excluding the underwriters over-allotment option) at a public offer price of $16 per ADS.

Taken from Business Line

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