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May 25, 2001 		Feedback  
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Satyam says allots 2.175 million more ADS

Leading Indian software firm Satyam Computer Services said on Friday that it had offered an additional 2.175 million American depositary shares under the oversubscription option of its recent float in the United States.

Satyam said its ADS proceeds had gone up to $161.9 million following the oversubscription allotment.

Satyam, headquartered in Hyderabad, listed at the New York Stock Exchange on May 15 after offering 14.5 million ADSs worth $140.8 million.

The ADS closed at $11.90 at the NYSE on Thursday, up 22.5 per cent over the issue price of $9.71. Each ADS represents two underlying equity shares.

Satyam's domestic shares ended up 3.45 percent at 247.30 rupees at the Bombay Stock Exchange on Friday, while the Sensex ended down 0.64 per cent.

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