Adani Power has got the nod from market regulator Securities and Exchange Board of India (Sebi) for its initial public offering (IPO). The company is looking to raise Rs 2,200 crore via its long-awaited IPO. Ameet Desai, the company’s director, said the company expects to launch the issue in the next week and open it in the last week of July.
The company said,
We got a clearance today from Sebi and we expect to launch the issue in the next week, which is by July 20, starting with roadshows. We expect to open the issue in the last week of July.
The valuation is something that we are discussing with our advisors, the merchant bankers. We are going to issue 30 crore shares. Of the amount that we would raise depending upon the final valuation decision that we take based on market feedback and advice from investment banks, we have to invest about Rs 2,200 crore from the proceeds of the issue to complete our 6600 megawatt project.
It will certainly be more than Rs 2,500 crore. We will discuss on the valuation range and decide on it in the course of the coming days. We would be happy to share it with the market as soon as we have taken a decision.
Our total equity in the company will go close to Rs 6,000 crore. We have got a debt tie-up of about Rs 22,000 crore. Most of the power projects currently get done at about 3.5-4:1. So, we would remain in that range
The company said,
We got a clearance today from Sebi and we expect to launch the issue in the next week, which is by July 20, starting with roadshows. We expect to open the issue in the last week of July.
The valuation is something that we are discussing with our advisors, the merchant bankers. We are going to issue 30 crore shares. Of the amount that we would raise depending upon the final valuation decision that we take based on market feedback and advice from investment banks, we have to invest about Rs 2,200 crore from the proceeds of the issue to complete our 6600 megawatt project.
It will certainly be more than Rs 2,500 crore. We will discuss on the valuation range and decide on it in the course of the coming days. We would be happy to share it with the market as soon as we have taken a decision.
Our total equity in the company will go close to Rs 6,000 crore. We have got a debt tie-up of about Rs 22,000 crore. Most of the power projects currently get done at about 3.5-4:1. So, we would remain in that range
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