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Mumbai May 10 Indiabulls Financial Services Ltd has fixed the price of its GDR offering on the Luxembourg Stock Exchange at $13.06 per GDR on May 9, marginally lower than Wednesday's closing price of Rs 555.65 on the Bombay Stock Exchange. Each GDR represents one equity share of the company of Rs 2 each.

The stock on Thursday shed 2.28 per cent to close at Rs 543 on the BSE. The company had raised $275 million through GDRs listed on the Luxembourg Stock Exchange. The book closed on May 9.

Goldman Sachs International and Merrill Lynch International are the joint lead managers and the joint bookrunners for the offering. The company has also granted an over-allotment option of up to $25 million to Merrill Lynch International.

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