The UK's Standard Chartered Bank on Tuesday began selling its shares in India, in the first initiative of its type there by an overseas firm. It is selling shares through a method known as Indian Depository Receipts (IDRs), which show ownership of shares in an overseas firm. The price band for the offering is 100 (£1.47; $2.10) to 115 rupees per IDR. The bank, which makes most of its profits in Asia, will issue 240 million IDRs through the offer.
The UK's Standard Chartered Bank on Tuesday began selling its shares in India, in the first initiative of its type there by an overseas firm. It is selling shares through a method known as Indian Depository Receipts (IDRs), which show ownership of shares in an overseas firm. The price band for the offering is 100 (£1.47; $2.10) to 115 rupees per IDR. The bank, which makes most of its profits in Asia, will issue 240 million IDRs through the offer.
The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).
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