Adani Power sells 18% of IPO to anchor investors

The anchor investors sign up at the mid-point of the price range following a bookbuilding exercise ahead of the formal launch of the IPO today.

Adani Power, which will open the books for its up to Rs30.2 billion $625 million initial public today, has become the first Indian listing candidate to use new rules that allow companies to sign up anchor investors through a bookbuilding process one day before the formal order taking starts. And according to sources, the process was a success with potential anchor investors submitting orders for twice the amount of shares available for this tranche and the bookbuilding resulting in a...

To continue reading, please login or register for free

Click for more on: ipo | power | anchor investors

Print Edition

FinanceAsia Print Edition

CONFERENCES