Date 08 October 2009

Indiabulls Power Limited IPO

 

Company:	Indiabulls Power Limited
Sector:	Power
IPO Dates:	Opens on October 12, 2009 - Closes on October 15, 2009
Price Band:	Rs.40 - 45 per share
Size:	Around Rs 2,000 crores
Minimum shares:	150 shares per lot
Proposed Listing:	NSE and BSE

Indiabulls Power Limited (IBPL) is a subsidiary of Indiabulls Real Estate Limited. IBPL has been established with the objective to develop, construct and operate power projects. IBPL is currently executing five coal based power projects totalling 6,615 MW generation capacities. The company proposes to set up power plants in Maharashtra (Amravati and Nashik) and Chhattisgarh (Bhaiyathan). The management has indicated that the first power plant would be commissioned at Nashik in 2011-12. The proceeds of the proposed IPO are expected to part finance the construction and development of the 1,320 MW Amravati Power Project Phase I, fund equity contribution in the Company's wholly owned subsidiary to part finance the construction and development of 1,335 MW Nashik Power Project, apart from general corporate purposes.

CRISIL has assigned a CRISIL IPO Grade "3/5" to the proposed initial public offer (IPO) of Indiabulls Power Ltd. This grade indicates that the fundamentals of the IPO are average relative to the other listed equity securities in India .  

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