Indosolar Limited IPO : CRISIL gives 3 out of 5

by khalid on 27/09/2010 · 0 comments

Indosolar Limited is a leading Indian manufacturer for photovoltaic cells. Indosolar manufactures poly-crystalline solar photo-voltaic (SPV) cells from silicon wafers utilizing crystalline silicon SPV cell technology for converting sunlight directly into electricity through a process known as the photo-voltaic effect. Indosolar Limited IPO has got 3 out of 5 by CRISIL (rating agency) and this rating/grading is average for a photovoltaic cells comapny. The grade 3 indicates that the fundamentals of the IPO are average compared to the other listed securities in India. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 357 crores. The IPO is opening on 13th Sep 2010 and the shares will be available for subscription up to 15th Sep 2010. The premium of the issue will be decided through a 100% Book Building Process. The price band for the issue has been fixed at Rs 29 at the lower level and Rs 32 at the upper level.

Issue Detail:-
Issue Open : 13th Sep 2010 – 15th Sep 2010
Issue Type : 100% Book Built Issue IPO
Issue Size : 123,103,448 Equity Shares of Rs 10 each
Issue Size : Rs. 357.00 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 29 – Rs. 32 Per Equity Share
Market Lot : 200 Shares
Minimum Order Quantity : 200 Shares
Listing At : BSE, NSE

The sole Book running lead manager to the issue is SBI Capital Markets Limited.

Registrar of the Issue : Link Intime India Private Ltd, Mumbai.

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