Orient Green Power IPO : Settled at 4.26% discount on debut

by khalid on 08/10/2010 · 2 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. Orient Green Power Limited’s shares were not able to got a buying interest and debuted at Rs 45.70, a 2.79% discount over its initial public offering (IPO) price of Rs 47. At the end of the day, shares price was Rs 44.90 which is a discount of 4.2% over the issue price of Rs 47. The stock hit a high of Rs. 46.60 and low of Rs. 38.30 on the day 1.

Orient Green Power Company IPO had been subscribed just 1.07 times at the end of the final day of subscription 24 September 2010. The IPO of Orient Green Power Company Limited had received a bad response from the investors with the final over-subscription figure nearing to about 1.07 times on an overall basis. Retail Investors categories of investors had shown least support of 0.80 times only.

Listing day Summary :-
Listing Date: 8th Oct 2010
BSE Scrip Code : 533263
Listing In : ‘B’ Group of Securities
ISIN : INE999K01014
Issue Price : Rs. 47.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share

On the BSE:-
Issue Price: Rs. 47.00
Open : 45.70
High : 46.60
Low : 38.30
Close : 44.90
Last Trade : 44.90

The proceeds of this IPO will be used for 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.

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{ 2 comments… read them below or add one }

Shabbir Bhimani October 9, 2010

The future of IPO seems to be in the dark with the kind of gains they see after listing and these gains also do not tend to be very long lasting.


khalid October 9, 2010

IPOs do well only at the good market conditions and all the companies as well as investors take benefit of the situation. So all this queues of IPOs will not be there once market goes into red.


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