The bookrunner said the transaction would comprise 82.5 million GDRs in total, including a greenshoe option to sell an extra allotment to investors.

Huatai Securities on Tuesday set a price range of $20 to $24.50 per global depositary receipt to raise $1.2 billion, in a deal set to value the brokerage at up to $1.8 billion (1.42 billion pounds).

(Reporting by Justin George Varghese in Bengaluru; Editing by Elaine Hardcastle)