Silverline kicks off roadshow for $125 million ADS sale

Silverline Technologies is the latest Indian company to tap the US equity markets with its planned sale of $125 million of American depositary shares on the New York Stock Exchange.

Silverline Technologies, an Indian information technology services company, kicked off a roadshow in Singapore Monday to drum up investor interest in its proposed sale of up to $125 million of American depositary shares ADS to be listed on the New York Stock Exchange.

Mumbai-based Silverline plans to sell 10.4 million shares, equivalent to 5.2 million ADS. After passing through Hong Kong yesterday the company is in Europe today and will visit investors in the US with a view to pricing the shares early in the week beginning 19 June.

If successful, Silverline will become the first Indian information technology company to be listed on the New York Stock Exchange. Other Indian companies...

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