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Dr. Reddy's Lab Issues More ADS

A total of 14.3 million have been issued under the offering.

Dr. Reddy's Lab

(RDY) - Get Dr. Reddy's Laboratories Ltd. Sponsored ADR Report

, an India-based pharmaceutical company, said Wednesday that it is issuing an additional 1.8 million American depositary shares to the underwriters at a public offer price of $16 an ADS pursuant to the exercise of the over-allotment option that Dr. Reddy's had granted to the underwriters in a previously announced offering completed on Nov. 22.

A total of 14.3 million ADS have been issued under the offering, including this issuance.

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On Nov. 16, Dr. Reddy's announced the pricing of the public offering of 12.5 million ADS (excluding the underwriter's over-allotment option) at a public offer price of $16 an ADS.

The shares of the company were trading up 34 cents, or 2.12% at $16.38 Wednesday.

This story was created through a joint venture between TheStreet.com and IRIS.