Mumbai: Adani Power has fixed the price at Rs
100 per equity share for its Initial Public Offering, which
has garnered over Rs 3,000 crore.
Adani Power is a power project development company
promoted by Adani Enterprises.
The price band of the IPO was Rs 90-Rs 100 per equity
share. On offer was 301,652,031 equity shares of Rs 10 each
for cash.
The issue got subscribed 21.64 times with the Qualified
Institutional Buyers (QIBs) portion being subscribed 39.47
times, the non-institutional portion being subscribed 8.62
times, and the retail portion being subscribed 2.96 times
as per the NSE website, a press release issued here said.
The issue opened on July 28 and closed on July 31.
At least 60 per cent of the net issue will be allocated
on a proportionate basis to Qualified Institutional Buyers
(QIBs) and five per cent of the QIB portion will be available
for allocation on a proportionate basis to mutual funds only.
The remaining QIB portion shall be available for
allocation on a proportionate basis to all QIB bidders,
including mutual funds, subject to valid bids being received
at the issue price.
The QIB portion includes anchor investor portion as per
the SEBI guidelines, the release said.
Further, not less than 10 per cent of the net issue will
be available for allocation on a proportionate basis to
non-institutional bidders and not less than 30 per cent of the
net issue will be available for allocation on a proportionate
basis to retail individual bidders, subject to valid bids, the
release said.
The equity shares are proposed to be listed on the
National Stock Exchange and Bombay Stock Exchange.
The global co-ordinator and book-running lead manager for
the issue is DSP Merrill Lynch, the book-running lead managers
for the issue are Enam Securities, IDFC-SSKI, JM Financial
Consultants, Kotak Mahindra Capital Company, Morgan Stanley
India, ICICI Securities and SBI Capital Markets.
Bureau Report
First Published: Monday, August 03, 2009, 20:32