The finance ministry has approved RCL’s proposed issue of $1.2 billion worth of American depository receipts (ADRs) and/or global depository receipts (GDRs), representing 6.53 per cent of the total paid-up equity shares of the company.

The finance ministry has approved RCL’s proposed issue of $1.2 billion worth of American depository receipts (ADRs) and/or global depository receipts (GDRs), representing 6.53 per cent of the total paid-up equity shares of the company. This will include a greenshoe option of 20 per cent or $200 million, which will be made at international stock exchanges or to institutional investors in Japan. However, the finance ministry has not indicated the timing of the issue. Meanwhile, the company has reportedly raised $2 billion in a deal with Citibank and Standard Chartered Bank.