Standard Chartered PLC IDR Issue - The First Ever IDR Issue opens from May 25, 2010 - Indian IPO Blog

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Friday, May 21, 2010

Standard Chartered PLC IDR Issue - The First Ever IDR Issue opens from May 25, 2010

Standard Chartered PLC, a Bank already listed on the London and Hong Kong Stock Exchanges, is all set to come up with the first-ever Issue of Indian Depository Receipts (IDRs). Standard Chartered PLC IDR issue will be open between Tuesday, May 25, 2010 and Friday, May 28, 2010. The Issue would aggregate to a total of Rs.24 Crs Indian Depository Receipts (IDRs)

Ten Indian Depository Receipts (IDRs) would equal to one share of Standard Chartered PLC. The Face Value of each underlying share represented by IDRs would be US $0.50. Standard Chartered PLC is already listed on the London and Hong Kong Stock Exchanges, thus this would be the third listing for the Bank

Standard Chartered Bank, the largest foreign bank in India, has India as its most profitable centre after Hong Kong. JM Financial Consultants Private Limited , DSP Merrill Lynch Limited , Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are Book Running Lead Managers to the Issue with Standard Chartered - STCI Capital Markets Limited as the Co-Book Running Lead Manager, while Karvy Computershare Pvt. Ltd. is the Registrar to the Issue. Stay tuned for more on Standard Chartered PLC IDR Issue


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