Indosolar Limited IPO : Listing on 29th Sep 2010

by khalid on 28/09/2010 · 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. The company has entered the capital market with an initial public offering (IPO) of 123,103,448 Equity Shares of Rs 10 each for cash, at a premium to be decided through a 100% Book Building Process . The company informed the market (BSE) that the shares of its recent IPO will list on 259h Sep 2010. The IPO was open from 13th Sep 2010 to 15th Sep 2010. The price band was Rs 29 to Rs 32 and the Issue Price was fixed at the upper level of price band, Rs 32 per equity share.

IPO Listing Detail :-
Listing Date: 29th Sep 2010
BSE Scrip Code : 533257
NSE Symbol : INDOSOLAR
Listing In : ‘B’ Group of Securities
ISIN : INE866K01015
Issue Price : Rs. 29.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share

The proceeds of this IPO will be used to finance the expansion of their annual manufacturing capacity for SPV cells by adding a third line of 100 MW, (“Line 3″); and for general corporate purposes.

The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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