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Adani Power Allots 36 M Shares Pre-IPO

20 July, 2009

Indian utility Adani Power Ltd said it had sold 26.9 million shares at 111.50 rupees each to Capital Trade & Private Investment Ltd, ahead of its initial public offering that opens on July 28.

 
The shares were allotted to the firm on June 25, Adani Power said in its offer document.
 
It also said 9.14 million shares at 81.42 rupees each to 3i Power Investments A1.
 
The IPO through a fresh issue of 301.65 million shares will constitute 13.84 percent 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-running lead managers to the issue.

 


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Adani Power Allots 36 M Shares Pre-IPO

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