Date : Jul-21-2009
Adani Power Ltd, promoted by Adani Enterprise going for an initial public offering of 301,652,031 equity shares of Rs. 10 each for cash at a price to be decided through a 100 per cent book building process. The issue for the IPO opens on July 28.
The company has not mentioned about the price band of the issue. However, the company release says that the price band and the minimum bid lot will be decided by the company in consultation with the Global co-coordinator and the book running lead manager and advertised at least two working days prior to the bid/issue opening date. The face value of the equity shares is Rs. 10.
The global coordinator and book running lead manager for the issue is DSP Merrill Lynch. The other book running lead managers are Enam Securities, IDFC -SSKI, JM Financial Consultants, Kotak Mahindra Capital, Morgan Stanley India, ICICI Securities and SBI Capital.
The issue would constitute 13.84 per cent of the post issue paid-up equity share capital of the company. The issue includes a reservation of up to 8,000,000 equity shares for eligible employee. This Issue has been graded by ICRA Limited as IPO Grade 3, indicating average fundamentals through its letter dated July 2, 2009. The equity shares offered through this Red Herring Prospectus are proposed to be listed on the NSE and the BSE.
The company intends to utilize the net proceeds of the issue to part finance the construction as well as development of Mundra Phase IV power project for 1,980 MW and fund equity contribution in its subsidiary - Adani Power Maharashtra to part finance the construction and development cost of power project for 1,980 at Tiroda.
The company has an installed combined capacity of 6,600 MW. Currently, Adani Power is working on the following projects: a) Mundra Phase I and II with capacity of 1,320 MW. b) Mundra Phase III with 1,320 MW and c) Mundra Phase IV with 1,980 MW d) Tiroda Power Project, being developed by company's subsidiary Adani Power Maharashtra Ltd with 1.980 MW. Along with this, the company is also planning to develop two power projects with combined installed capacity of 3,300 MW through its subsidiaries.
Adani Power Ltd, promoted by Adani Enterprise going for an initial public offering of 301,652,031 equity shares of Rs. 10 each for cash at a price to be decided through a 100 per cent book building process. The issue for the IPO opens on July 28.
The company has not mentioned about the price band of the issue. However, the company release says that the price band and the minimum bid lot will be decided by the company in consultation with the Global co-coordinator and the book running lead manager and advertised at least two working days prior to the bid/issue opening date. The face value of the equity shares is Rs. 10.
The global coordinator and book running lead manager for the issue is DSP Merrill Lynch. The other book running lead managers are Enam Securities, IDFC -SSKI, JM Financial Consultants, Kotak Mahindra Capital, Morgan Stanley India, ICICI Securities and SBI Capital.
The issue would constitute 13.84 per cent of the post issue paid-up equity share capital of the company. The issue includes a reservation of up to 8,000,000 equity shares for eligible employee. This Issue has been graded by ICRA Limited as IPO Grade 3, indicating average fundamentals through its letter dated July 2, 2009. The equity shares offered through this Red Herring Prospectus are proposed to be listed on the NSE and the BSE.
The company intends to utilize the net proceeds of the issue to part finance the construction as well as development of Mundra Phase IV power project for 1,980 MW and fund equity contribution in its subsidiary - Adani Power Maharashtra to part finance the construction and development cost of power project for 1,980 at Tiroda.
The company has an installed combined capacity of 6,600 MW. Currently, Adani Power is working on the following projects: a) Mundra Phase I and II with capacity of 1,320 MW. b) Mundra Phase III with 1,320 MW and c) Mundra Phase IV with 1,980 MW d) Tiroda Power Project, being developed by company's subsidiary Adani Power Maharashtra Ltd with 1.980 MW. Along with this, the company is also planning to develop two power projects with combined installed capacity of 3,300 MW through its subsidiaries.
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