India's LIC Housing prices GDR

Smart India hands see value in play on India''s booming mortgage market.

LIC Housing Finance have interrupted India's monsoon to tap the international capital markets with a five million unit GDR offering The $30 million deal was small, but provided the Indian market with some light relief in the holiday season

The GDR priced at $5 97 representing a 5% discount to the stock's Rp145 55 close on Tuesday and parity with its pre-launch price on Friday The deal was marketed over the weekend to investors in Asia, Europe and the US under the SEC's Rule-144A exemption

Book closed 1 5 times oversubscribed under the lead of CLSA and Kotak Mahindra Securities One unit equals two shares

The stock rose about 4% yesterday (Wednesday) in line with...

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