ICICI brings India's largest ADR

India's second largest bank increased its ADR pool by $405 million following the pricing of a 19.2 million ADR offering after New York's close on Thursday. The Merrill Lynch, Morgan Stanley and UBS led deal was priced at $21.11 per unit. This represented parity pricing to the ADR close and a 14.5% premium to the stock's Rs401.3 close on the Bombay Stock Exchange.