Patni's Board approves $ 150 M ADR

By SiliconIndia   |   Monday, 21 February 2005, 08:00 Hrs
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BANGALORE: The Board of Directors of Patni Computer Systems Ltd., at its meeting held on Saturday has approved the proposal to issue American Depository Receipts (ADRs) up to an aggregate amount of $ 150 million, including the green shoe option.

The ADR issue will be a primary one based on fresh issue of shares, and is subject to the requisite shareholders' and regulatory approvals, as may be required. The pricing will be determined in consultation with the investment bankers.

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