Indiabulls IPO Listing on October 30, 2009. For more details read: Indiabulls Power Listing date
Indiabulls Power Limited is a power project development company established in 2007. Indiabulls Power Limited develops and intends to operate and maintain power projects across the india. This is from Indiabulls group of companies. This subsidiary of Indiabulls Realty is planning to list on BSE and NSE. SEBI cleared the Indiabulls Power IPO in late in September.
IBPL is currently executing five coal based power projects totalling 6,615 MW generation capacities. The management has indicated that the first power plant would be commissioned at Nashik in 2011-12. The proceeds of the proposed IPO are expected to part finance the construction and development of the 1,320 MW Amravati Power Project Phase I, fund equity contribution in the Company’s wholly owned subsidiary to part finance the construction and development of 1,335 MW Nashik Power Project, apart from general corporate purposes.
CRISIL IPO Grading has given 3/5 rating to this IPO. This means this company has an average fundamentals.
The Company has five thermal power projects under development, which will have a combined installed capacity of 6,615 MW. Projects include -:
1. Amravati Phase I Power Project
2. Nashik Power Project
3. Bhaiyathan Power Project
4. Amravati Phase II Power Project
5. Chhattisgarh Power Project
Indiabulls is also developing four medium size Hydro Power Projects in Arunachal Pradesh aggregating to 167 MW. Indiabulls has also entered into MoUs with the Govt. of Madhya Pradesh and Jharkhand for setting up of 2640 MW & 1320 MW Thermal Power Projects.
Promoters:
1. Mr. Sameer Gehlaut - is the Non Executive Chairman of Company.
2. Mr. Rajiv Rattan - is the Vice Chairman of the Company.
3. Mr. Saurabh K. Mittal - is the non-executive Director of the Company.
Issue Detail:
* Issue Open: Oct 12, 2009 - Oct 15, 2009
* Type: 100% Book Built Issue IPO
* Size: 339,800,000 Equity Shares of Rs. 10
* Issue Size: Rs. Rs. 1,359.20 - 1,529.10 Crore
* Face Value: Rs. 10 Per Equity Share
* Price: Rs. 40-45 per Equity Share
* Lot: 150 shares
* Order Quantity: 94500 for retail investor
* At: BSE, NSE
* Ratings: 3/5 (CRISIL)
Subscription status:
1. QIBs : 16.2126
2. HNIs: 2.9824
3. Retail:0.5212
Overall: 8.86
Registered Office :
E-29, First Floor,
Connaught Place,
New Delhi - 110001
Phone: (91 11) 3047 6300
Fax: (91 11) 3047 6317
Email: poweripo@indiabulls.com
Website: http://www.indiabulls.com/power
Morgan Stanley India Company Pvt Ltd is the book running lead manager
Registrar:
Karvy Computershare Private Limited
Karvy House, 46, Avenue 4, Street No. 1,
Banjara Hills, Hyderabad - 500 034
Andhra Pradesh, India
Phone: +91-40-23312454
Fax: +91-40-23311968
Email: varghese@karvy.com
Website: http://karisma.karvy.com
