ACB India Limited is entering into primary market with an Initial Public Offering (IPO) of —- Equity Shares of Rs 10 each. The company has filed draft red herring prospectus (DRHP) papers with market regulator Securities and Exchange Board of India (SEBI) for the same. The company is likely to raise around Rs 575 Crore through the issue. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has yet to be decided. The price band would be decided through the book-building process. There will be an offer for sale upto 2.8 crore shares by Warburg Pincus and ACB India’s promoters. ACB (India) Limited is a coal washeries company.
Promoters of the company are Rudra Sen Sindhu, Ganesh Chandra Mrig, Vir Sen Sindhu and Kuldeep Singh Solanki.
The proceeds of this fresh issue (Initial Public Offering) will be used for part-financing the construction and development of the second phase of the company’s 30 MW blended coal based power project at Chakabura; investment in wholly owned Subsidiary, Aryan M.P. Power Generation Private Limited for part-financing the construction of the first unit of our 1,200 MW (2 x 600 MW) coal-fired power project at M.P and for other corporate purposes.
The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
IPO Summary :-
IPO Open : –
IPO Type : 100% Book Built Issue IPO
IPO Size : —– Equity Shares of Rs 10 each
IPO Size : Rs 575 Crore
Face Value : Rs 10 Per Equity Share
IPO Price : Rs – Rs Per Equity Share
Minimum Bid Quantity : Shares (Rs. with 1 Lot) @ upper level of price band
Maximum Bid Quantity : Shares (Rs. with Lots ) @ upper level of price band
Listing At : BSE, NSE
The Book running lead managers (BRLM) to the issue are IDFC Capital, Edelweiss Capital, J.P. Morgan India, Axis Bank, ICICI Sec, YES Bank.
Registrar of the Issue : Link Intime India Private Limited, Mumbai
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