The much-awaited big-ticket IPO from the Adani group will open on Tuesday amid high expectations from the group that saw its earlier offering, the Mundra Port & SEZ (MPSEZ) issue, being oversubscribed a record 116 times in November 2007.
Edited: July 28th, 2009
Angel Broking : Neutral
Angel Broking has come out with its research report on Adani Power’s initial public offering (IPO). Adani Power has opened for subscription 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 close on July 31, 2009. The IPO price band is fixed at Rs 90-100 per share.
The research firm has recommended a neutral rating on the issue.
Edited: July 28th, 2009