Public RelationsAdani Power IPO price fixed at Rs 100 a share
Adani Power has fixed the price at Rs 100 per equity share for its initial public offering (IPO) of 301,652,031 equity shares of Rs 10 each for cash.
- JSW working on IPO - Pre-IPO placements back in vogue - Adani Power IPO subscribed 21.51 times - Adani Power IPO subscribed 14 times - The sky's the limit - Adani IPO subscribed almost four times ">Adani IPO subscribed almost four times
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.
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 QIBs and 5 per cent of the QIB portion will be available for allocation on a proportionate basis to mutual funds only.
The remainder of the 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.