Orient Green Power IPO : Opening on 21st Sep 2010

by khalid on 24/09/2010 · 0 comments

Orient Green Power Company limited (OGPL) is a renewable energy producer in India focused on the development, ownership, and operation of wind, biomass and small hydel projects. The company is promoted by engineering firm Shriram EPC. The company currently has an aggregate installed capacity of 196 megawatts (MW), comprising 156 MW from wind power and 40 MW biomass projects. The company want to raise money from primary market with this IPO to expand power generation capacity to 1000 MW in two years. The company is entering into primary market with an Initial Public Offer (IPO) of Rs 900.00 crores. The IPO is opening on 21st Sep 2010 and the shares will be available for subscription up to 24th 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 47 at the lower level and Rs 55 at the upper level.

The proceeds of this IPO will be used to finance the construction and development of four biomass projects. funding their Subsidiaries OGP Rajasthan, biomass power project in Kishanganj and Beta Wind Farms Private Ltd in Tamil Nadu, repayment of existing debt and 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 : 21st Sep 2010 – 24th Sep 2010
Issue Type : 100% Book Building Issue
Issue Size : 166,943,986 Equity Shares of Rs 10 each
Issue Size : Rs. 900.00 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. 47 – Rs. 55 Per Equity Share
Market Lot : 125 Shares
Minimum Order Quantity : 125 Shares
Listing At : BSE, NSE

The book running lead managers to the issue are Axis Bank Limited, Goldman Sachs (India) Securities Private Limited, JM Financial Consultants Private Limited and UBS Securities India Private Limited.

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

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