Indiabulls Power IPO likely to be priced at Rs.45
Friday, 23 October 2009, 18:24 IST
By SiliconIndia
By SiliconIndia
New Delhi: Indiabulls Power IPO (initial public offering), which has generated huge investor response, is likely to be priced at the higher end of the price band at Rs.45 a share, reports Business Line.
The IPO of 39.08 crore equity shares of the power unit of Indiabulls Real estate would result in an equity dilution of 19 percent. The company has planned to raise Rs.1,700 crore at the higher end of the Rs.40-45 price band.
Indiabulls Power received good response from institutional investors who subscribed over 40 times of the portion reserved for them. While non-institutional investors' portion got subscribed over five times, retail investors' portion got fully subscribed.
The share sale has attracted five anchor investors, who subscribed to 18 percent of the issue. The company raised over Rs.316.46 crore from these strategic investors.
The IPO of 39.08 crore equity shares of the power unit of Indiabulls Real estate would result in an equity dilution of 19 percent. The company has planned to raise Rs.1,700 crore at the higher end of the Rs.40-45 price band.
Indiabulls Power received good response from institutional investors who subscribed over 40 times of the portion reserved for them. While non-institutional investors' portion got subscribed over five times, retail investors' portion got fully subscribed.
The share sale has attracted five anchor investors, who subscribed to 18 percent of the issue. The company raised over Rs.316.46 crore from these strategic investors.
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