Power Sector >> Indowind Energy investors gain 80.76% on day one
Source : MoneyControl
The IPO investors in the Indowind Energy Limited, a wind power project and green power company, have gained 80.76% on the very first day of listing on stock exchanges here today. The equity opened on BSE at Rs 80.25 against the issue price of Rs 65 and it shot up to Rs 124.50 intraday before closing for the day at Rs 114.05 with a trading volume of 40.39 million equity shares. On NSE it opened at Rs 75 and moved up to Rs 124 before closing for the day at Rs 117.50 with a trading volume of 48.41 million equity shares. UTI Securities Limited was the BRLM, Canara Bank was the Co-BRLM and Keynote Corporate Services Ltd was the Advisor to the Issue.
Indowind Energy Limited, a producer of wind power (`Green Power') and suppliers to its customers including State Electricity Boards and Corporates, is currently in the process of implementing additional capacity of 9 MW Wind Farm Project at Chitradurga in Karnataka. It also proposes to purchase Hydraulic cranes and acquire second hand Wind Energy Generators (WEG) from banks. To fund these plans the company had entered the capital markets on 21st August 2007 with a public issue of 1,25,00,000 equity shares of Rs.10 each through 100% book building process in the price band of Rs 55 to Rs 65
The IPO investors in the Indowind Energy Limited, a wind power project and green power company, have gained 80.76% on the very first day of listing on stock exchanges here today. The equity opened on BSE at Rs 80.25 against the issue price of Rs 65 and it shot up to Rs 124.50 intraday before closing for the day at Rs 114.05 with a trading volume of 40.39 million equity shares. On NSE it opened at Rs 75 and moved up to Rs 124 before closing for the day at Rs 117.50 with a trading volume of 48.41 million equity shares. UTI Securities Limited was the BRLM, Canara Bank was the Co-BRLM and Keynote Corporate Services Ltd was the Advisor to the Issue.
Indowind Energy Limited, a producer of wind power (`Green Power') and suppliers to its customers including State Electricity Boards and Corporates, is currently in the process of implementing additional capacity of 9 MW Wind Farm Project at Chitradurga in Karnataka. It also proposes to purchase Hydraulic cranes and acquire second hand Wind Energy Generators (WEG) from banks. To fund these plans the company had entered the capital markets on 21st August 2007 with a public issue of 1,25,00,000 equity shares of Rs.10 each through 100% book building process in the price band of Rs 55 to Rs 65
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