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Article: India: Adani Power IPO subscribes 21.63 times on close, QIBs lead race.
- Article from:
- TendersInfo
- Article date:
- August 1, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: kusumv03
Initial public offering of Ahmedabad based Adani Power, promoted by Adani Enterprises, continued to receive overwhelming response on final day subscribing 21.63 times.
Qualified institutional buyers who led the race subscribed 12.93 times. This was followed by non institutional investors and retail individual investors who subscribed 2.17 times and 0.55 times respectively. A total of 5,382,411,320 bids were received out of which 242,403,980 bids were received at cut-off price.
The company had proposed a public issue of approximately 301.65 million equity shares of Rs 10 each for cash at a price to be decided through 100% book ...