Adani Power a power project development company, 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 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 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.
S: MC
The price band for 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 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.
S: MC
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