tata-power-and-suzlon-boost-gdr-sizes

Tata Power and Suzlon boost GDR sizes

Tata Power raises $335 million, while Suzlon increases the offering it launched on Monday to $108 million.

India's Suzlon Energy was able to slightly increase the size of its global depositary receipt offering that was launched late Monday after keeping the books open for another few hours yesterday. The wind turbine manufacturer sold $108 million worth of GDRs, up from an original deal size of $100 million, according to a company statement.

And last night, Tata Power, India's largest private sector power utility, attracted sufficient demand to upsize its GDR by 34% to $335 million from $250 million. According to the term sheet the company had the option to sell up to $400 million worth of GDRs, but a source noted that in light of the fact that equity markets...

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