Adani Power IPO subscription at 21.64 times

The Initial Public Offering (IPO) of Adani Power Limited has received overwhelming response from investors. The IPO which opened for subscription on July 28, 2009 and closed today - July 31, 2009 has received subscription of 21.64 times.

The IPO has received bids for 5384180945 equity shares against the offer of 248794681 equity shares resulting in a subscription of 21.64 times. The IPO received bids for 244062845 equity shares at cut-off price.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of 39.4757 times with bids for 4868686420 equity shares against the offer of 123333869 equity shares.

The Non Institutional Investors portion of the issue has received bids for 253139250 equity shares against the offer of 29365203 equity shares resulting in a subscription of 8.6204 times.

The Retail Individual Investors (RIIs) portion of the issue has received subscription of 2.9680 times with bids for 261464255 equity shares against the offer of 88095609 equity shares.

The Employee Reservation has received bids for 891020 equity shares against the offer of 8000000 equity shares resulting in a subscription of 0.1114 times.

The company came with an IPO of 301,652,031 EQUITY SHARES [including Anchor investor portion upto 52,857,366 equity shares] of Rs 10 each for cash at a price band of Rs 90 to Rs 100 through 100% book-building process.

Source : Equity Bulls

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