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Wednesday, July 22, 2009

Adani Power IPO Price Band At Rs 90-100/share

Adani Power, a flagship company of Adani Group, has fixed IPO (initial public offering) price band at Rs 90-100/share. The minimum IPO bid slot set at 65 shares.

A power project development company, promoted by Adani Enterprises Limited, with total revenues of Rs 196 billion, is entering the capital markets with an initial public offering of 301,652,031 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The issue will open on July 28, 2009, and close on July 31, 2009.

The issue would constitute 13.84% of the post-issue paid-up equity share capital of the company. The issue includes a reservation of up to 8,000,000 equity shares of Rs 10 each for eligible employees. The issue less the employee reservation portion comprises a net issue of 293,652,031 equity shares. The net issue will constitute 13.47% of the post-issue paid-up equity share capital of the company.

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