The public issue of Adani Power, which closed on Friday, was subscribed more than 21 times.
Adani Power initial public offering (IPO) witnessed huge investors' interest and was subscribed 21.63 times. The issue received bids for more than 538 crore shares as against the issue size of 30,16,52,031 shares, as per the data available on the NSE website.
Qualified institutional investors has given strong response to the issue and their portion was subscribed 36 times, till 16 hours IST.
Amit Desai, Director of Adani Power said almost all bids were at upper end of the band, Rs 100 a share. The company, he said, was likely to list its shares around August 20, 2009.
The price band was fixed between Rs 90 and Rs 100 per equity share.
The net issue would constitute 13.47% of the post-issue paid-up equity share capital of the company.
The company 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 issue received bids for 537.7 crore shares against the 24.88 crore shares on offer, according to figures available on the NSE Web site. The QIB portion was subscribed 39.44 times, HNIs (high net worth individual) 8.5 times and the retail portion 2.75 times. Open to anchor investors, the issue received bids for 9.4 crore shares against the 5.28 crore shares reserved for them. The price band was Rs 90-100.
Adani Power initial public offering (IPO) witnessed huge investors' interest and was subscribed 21.63 times. The issue received bids for more than 538 crore shares as against the issue size of 30,16,52,031 shares, as per the data available on the NSE website.
Qualified institutional investors has given strong response to the issue and their portion was subscribed 36 times, till 16 hours IST.
Amit Desai, Director of Adani Power said almost all bids were at upper end of the band, Rs 100 a share. The company, he said, was likely to list its shares around August 20, 2009.
The price band was fixed between Rs 90 and Rs 100 per equity share.
The net issue would constitute 13.47% of the post-issue paid-up equity share capital of the company.
The company 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 issue received bids for 537.7 crore shares against the 24.88 crore shares on offer, according to figures available on the NSE Web site. The QIB portion was subscribed 39.44 times, HNIs (high net worth individual) 8.5 times and the retail portion 2.75 times. Open to anchor investors, the issue received bids for 9.4 crore shares against the 5.28 crore shares reserved for them. The price band was Rs 90-100.
Adani’s was the largest IPO to hit the market in the last 18 months.
source: NDTVPROFIT,MC
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