Adani Power IPO Placement
Adani power has completed Pre IPO Placement. Very soon IPO details will be announced . Being a big IPO let’s see how successful this gets.
Adani Power Ltd said it had sold 26.9 million shares at Rs 111.50 each to Capital Trade & Private Investment Ltd, ahead of its
initial public offering that opens on July 28.
The shares were alloted to the firm on June 25, Adani Power said in its offer document.
It also said 9.14 million shares at Rs 81.42 each to 3i Power Investments A1.
The IPO through a fresh issue of 301.65 million shares will constitute 13.84 per cent of the post-issue capital.
The issue proceeds will be used to partly fund construction of two coal-based power projects of 3,960 megawatts capacity in western India, at a total cost of 182.2 billion rupees.
It is totally building generation capacity of 6,600 MW. DSP Merrill Lynch, Enam, IDFC-SSKI, JM Financial, Kotak Mahindra Capital, Morgan Stanley India, ICICI Securities and SBI Capital are the book-runing lead managers to the issue.