Aug 18, 2009

Adani Power listing on Bourses :: August 20

Adani Power a power project development company, (whose IPO was recently open for public subscriptoin) promoted by Adani Enterprises will list its equity shares on the bourses on August 20, 2009.

The company has fixed the issue price at Rs 100 per equity share for its initial public offering of 301,652,031 equity shares of Rs 10 each.

The price band for Adani Power IPO was Rs 90 to Rs 100 per equity share. The issue got subscribed 21.64 times with the Qualified institutional buyers (QIBs) portion being subscribed 39.47 times; the non-institutional portion was subscribed 8.62 times; and the retail portion was subscribed 2.96 times as per the data released on the NSE website. The issue had opened on July 28, 2009 and closed on July 31, 2009.

The company raised Rs 3,016.52 crore via this IPO. It intends to utilize the net proceeds of the issue to part finance the construction and development of Mundra Phase IV Power project for 1,980 MW and fund equity contribution in its subsidiary, Adani Power Maharashtra Limited, to part finance the construction and development cost of power project for 1,980 MW at Tiroda, Maharashtra.

The net issue constituted 13.47% of the post-issue paid-up equity share capital of the company.

Now, we have to wait until Thursday, the 20th of August, 2009 when the issue gets listed, to see if the investors get lucky with the listing gains... What do you think... Please put your comments below...



Anonymous Anonymous said...

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August 25, 2009  
Anonymous EquiTipz said...

Thanks a lot Margaret... :) Keep visiting Equitipz and keep investing...keep earning

August 25, 2009  

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