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NEW DELHI: Jindal Saw Ltd on Friday announced that it has raised $65 million through the issue of 8.135 million global depository shares (GDS) excluding a greenshoe option of $10 million.

The GDS, each representing one underlying share, were priced at $7.99 each and would be listed on the Luxembourg Stock Exchange and also traded on the International Order Book of the London Stock Exchange, according to a company release.

Citigroup acted as the sole book-runner on the transaction and the issue generated demand from investors across Asia, Europe and the US, the release added.

According to Mr P.R. Jindal, Vice-Chairman of the company, "This GDS issue would help us to enjoy the benefits of an internationally traded security market as our shareholder base would be diversified beyond national border.''

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