Corporate News Details
Indiabulls Power is expected to fix a price band of Rs 42-45 per share for its proposed initial public offering which is to commence on October 12 and close on October 15. However, calculated on the upper end on the price band, a unit of Indiabulls Real Estate would mop-up around Rs 1,700 crore through this IPO.
Additionally, Indiabulls Power filed the draft prospectus with market regulator SEBI in July and on October 1 it filed the red herring prospectus with the Registrar of Companies. On the other hand, the company is planning to capture the capital markets in order to raise funds to part finance the construction and development works at its power projects and other corporate purposes.
In addition, the total IPO size of the company along with the green shoe option stands at 39.07 crore shares were out of this, the IPO would be of 33.98 crore equity shares of Rs 10 each and a green shoe option of up to 5.09 crore equity shares.
No comments:
Post a Comment