Indiabulls Power IPO : Opening on 12th Oct 09
Indiabulls Power is a subsidiary of Indiabulls Realty, informed the market about IPO opening date. They are planning to open IPO from 12th Oct. to 15th Oct. The company is coming out with an IPO of 33.98 crore equity shares of Rs 10 each to raise around Rs 2000 crore.
The proceeds of the issue will be used to part finance the construction and development of the 1320 MW Amravati Power Project Phase-I and 1335 MW Nashik Power Project. The Company has five thermal power projects under development, which will have a combined installed capacity of 6615 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 Real Estate currently holds 71.4 percent in the Indiabulls Power Ltd. UK-based billionaire L.N. Mittal’s LNM India Internet Ventures holds a 10.7 percent stake, while private equity firm FIM Ltd holds the remaining 17.9 percent.
Allotment status can be seen here after the IPO is closed :- My Allotment Status
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