Adani Power 3000 crore IPO fixed between Rs.90-100
The Adani Power Ltd IPO closed on Friday, having been over-subscribed over 21 times. The Rs 3,000 crore issue, the second biggest public
· offer after that of Reliance Power in 2008, attracted good investor response and received commitment worth of Rs 63,000 crore from all categories of investors.
· According to sources, the portion reserved for qualified institutional buyers (QIB) got subscribed 39 times, non-institutional investors by 8.5 times and retail investors by 2.2 times.
· Most marketmen said the attractive price band of the IPO enthused investors besides the overall recovery in the secondary market that is getting reflected in the primary market.
· The price band of the IPO has been fixed between Rs 90-100 and the company planned to raise Rs 3000 crore. The company is expected to get listed on bourses on August 20.
· APL IPO was the first to have six anchor investors after Sebi announced guidelines for anchor investors, attracting leading players like Credit Suisse and T Rowe Price a day before the issue opened on Tuesday.
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