Bookbuilding IPO | ₹3,017 Cr | Listed at BSE, NSE | Tue, Jul 28, 2009 - Fri, Jul 31, 2009
Adani Power IPO is a book build issue of ₹3,016.52 crores. The issue is entirely a fresh issue of 30.17 crore shares of ₹3,016.52 crore.
Adani Power IPO bidding started from Jul 28, 2009 and ended on Jul 31, 2009. The shares got listed on BSE, NSE on Aug 20, 2009.
Adani Power IPO price band is set at ₹100 per share. The lot size for an application is 65. The minimum amount of investment required by an retail is ₹6,500 (65 shares) (based on upper price). The lot size investment for sNII is 31 lots (2,015 shares), amounting to ₹2,01,500, and for bNII, it is 154 lots (10,010 shares), amounting to ₹10,01,000.
The issue includes a reservation of up to 80,00,000 shares for employees offered at a discount of ₹0.00 to the issue price.
BOFA Securities India Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Adani Power IPO RHP for detailed Information.
IPO Open
Tue, Jul 28, 2009
IPO Close
Fri, Jul 31, 2009
Issue Price
₹100 per share
Market Cap (Pre-IPO)
₹21,800.35 Cr
| IPO Date | 28 to 31 Jul, 2009 |
| Listed on | Thu, Aug 20, 2009 |
| Face Value | ₹10 per share |
| Price Band | ₹90 to ₹100 |
| Issue Price | ₹100 per share |
| Lot Size | 65 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 30,16,52,031 shares (agg. up to ₹3,017 Cr) |
| Fresh Issue | 30,16,52,031 shares (agg. up to ₹3,017 Cr) |
| Share Holding Pre Issue | 1,87,83,83,169 shares |
| Share Holding Post Issue | 2,18,00,35,200 shares |
| BSE Script Code / NSE Symbol | 533096 / ADANIPOWER |
| ISIN | INE814H01011 |
Adani Power IPO comprises a total issue size of 30,16,52,031 shares. The net offer to the public is 29,36,52,031 shares, after excluding 80,00,000 shares under a preferential allotment. Of the Net offer 17,61,91,219 (60.00%) are allocated to QIB, 2,93,65,203 (10.00%) allocated to NII 8,80,95,609 (30.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 17,61,91,219 | 60.00% | 58.41% | NA |
| − Anchor Investor Shares Offered | 5,28,57,350 | 17.52% | NA | |
| − QIB (Ex. Anchor) Shares Offered | 12,33,33,869 | 40.89% | NA | |
| NII (HNI) Shares Offered | 2,93,65,203 | 10.00% | 9.73% | NA |
| Retail Shares Offered | 8,80,95,609 | 30.00% | 29.20% | 13,55,317 |
| Preferential Reservations | ||||
| Employee Shares Offered | 80,00,000 | 2.65% | NA | |
| Total Shares Offered | 30,16,52,031 | 100.00% | 100.00% | |
Investors can bid for a minimum of 65 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 65 | ₹6,500 |
| Retail (Max) | 30 | 1,950 | ₹1,95,000 |
| S-HNI (Min) | 31 | 2,015 | ₹2,01,500 |
| S-HNI (Max) | 153 | 9,945 | ₹9,94,500 |
| B-HNI (Min) | 154 | 10,010 | ₹10,01,000 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1996, Adani Power Limited (APL), is a power project development company. Company operates and maintains power projects across India. Adani Power Limited is a part of Adani Group, a leading business group in India. Currently Adani group has presence in coal mining; coal trading, shipping, power generation, power transmission and power trading.
Adani Power has four thermal power projects under various stages of development, with a combined installed capacity of 6,600 MW. In addition they are also planning to develop two thermal power projects at Dahej and Kawai with a combined installed capacity of 3,300 MW.
Adani Power Limited is planning to implement Mega Thermal Power Projects at various locations in India in view of the growing needs of power requirements in the country. APL propose to implement 2640 MW Coal based Thermal Power Project at Mundra, Dist. Kutch, Gujarat, India. APL also propose to implement 1320 MW Coal based Thermal Power Project at Tiroda, Gondia, Maharashtra through its 100% subsidiary, Adani Power Maharashtra Ltd. (APML). APL is also actively planning to implement other Thermal Power Stations at various locations in India, totaling to about 10000 MW in the coming years.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | SEZ Projects | 0.00 |
| 2 | Coal Terminal Project | 0.00 |
| 3 | Investment in Adani Petronet (Dahej) Port Private Limited (‘APPL’) | 0.00 |
| 4 | Investment in erstwhile Adani Logistics Limited | 0.00 |
| 5 | Investment in Adani Logistics Limited (erstwhile Inland Conware Private Limited)** | 0.00 |
| 6 | General Corporate Purpose | 0.00 |
| 7 | Issue Expenses | 0.00 |
| KPI | |
|---|---|
| RoNW | 6.58% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 85.3% | 73.5% |
| Market Cap | ₹21,800.35 Cr. |
The Adani Power IPO is subscribed 21.64 times on July 31, 2009 5:00:00 PM (Day 4). The public issue subscribed 2.97 times in the retail category, 39.48 times in the QIB category, and 8.62 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 39.48 | 12,33,33,869 | |
| NII | 8.62 | 2,93,65,203 | |
| Retail | 2.97 | 8,80,95,609 | |
| Employee | 0.11 | 80,00,000 | |
| Total | 21.64 | 24,87,94,681 |
ICRA has assigned an IPO Grade 3 to Adani Power Limited IPO. This means as per ICRA, company has average fundamentals. ICRA assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.Link to download ICRA rating document.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management, underwriting and selling commission | 42.50 |
| 2 | Advertising and Marketing expenses | 10.00 |
| 3 | Printing and stationery | 4.00 |
| 4 | Others (Monitoring agency fees, Registrar’s fee, legal fee, listing fee, etc.) | 8.00 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹100.00 | ₹100.00 |
| Open | ₹105.00 | ₹108.00 |
| Low | ₹98.50 | ₹98.30 |
| High | ₹107.90 | ₹110.00 |
| Last Trade | ₹100.05 | ₹100.10 |
Lead Manager Reports
Adani Power IPO is a main-board IPO of 30,16,52,031 equity shares of the face value of ₹10 aggregating up to ₹3,017 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 65.
The IPO opens on Tue, Jul 28, 2009, and closes on Fri, Jul 31, 2009.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Adani Power IPO using UPI as a payment gateway. Zerodha customers can apply in Adani Power IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Adani Power IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Adani Power IPO opens on Tue, Jul 28, 2009 and closes on Fri, Jul 31, 2009.
Adani Power IPO lot size is 65, and the minimum amount required for application is ₹6,500.
You can apply in Adani Power IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Adani Power IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Adani Power IPO allotment status.
The Adani Power IPO listing date is on Thu, Aug 20, 2009.
