Rediff to raise $75 million through US listing

Indian web portal Rediff.com needs lots of money to keep traffic coming to its site. Now it plans to list its ADRs in the US in the hope of raising $75 million.

Toni Clarke

May 24, 2000

Rediff.com, one of India's leading web portals, hopes to raise $75 million in an initial offering of American Depositary Receipts on the US Nasdaq to expand its content and finance advertising, acquisitions and investments, according to a filing with the US Securities and Exchange Commission.

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