India yesterday saw another placement in the wake of Monday's massive stockmarket gains, which have clearly pushed a number of stocks back to levels where companies are starting to feel comfortable to raise new equity and investors are happy to secure some profit. This time it was an existing institutional shareholder who took the opportunity to offload its holdings in mobile operator Reliance Communications.
The UBS-led deal raised $163.3 million and was launched and completed before the Indian market opened.
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