Adani Power IPO gets green signal from SEBI…
The company is coming out with an initial public offering (IPO) of 3377 lakh shares of face value of Rs 10 each. The net issue to the public would be 3297 lakh shares post reducing the employees’ reserved portion of 80 lakh shares.
It intends to utilize the issue proceeds for partly financing the construction and development of Mundra Phase IV Power Project, for 1,980 MW and funding equity contribution in the subsidiary Adani Power Maharashtra Limited to part finance the construction and development cost of power project for 1,980 MW at Tiroda, Maharashtra.
SEBI (Securities and Exchange Board of India) has cleared Adani Power IPO Adani Enterprises hold 83% stake in the company.
Equity shares issued through this IPO are proposed to be listed on the BSE and NSE. DSP Merrill Lynch Limited is the Global Coordinator and Book Running Lead Manager to the issue and Karvy Computershare PRIVATE Limited is the registrar
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