Indosolar Limited IPO : Opening on 13th Sep 2010

by khalid on 08/09/2010 · 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 is entering into primary market with an Initial Public Offer (IPO) of Rs 357 crore. 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 – Rs.32 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 offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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 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

Book running lead managers to the issue is Enam Securities.

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

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