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| Indiabulls Power raises Rs 270 crore from anchor investors |
| BS Reporter / Mumbai Oct 11, 2009, 00:33 IST |
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Indiabulls Power Ltd, the initial public offer (IPO) of which opens on October 12 for subscription, has informed that eight anchor investors have committed to buy over 60 million shares of the company at Rs 45 a piece, amounting to Rs 270 crore.
The anchor investors are Coopthall Mauritius Investment Ltd (subscribed to over 20 million shares), Nomura India Investment Fund Mother Fund (7.9 million shares), The Nomura Trust Banking Company Ltd as the trustee of Nomura India Stock Mother Fund (2.7 million shares), Indea Capital Pte Ltd A/c Indea Absolute Return Fund (2.8 million shares), Norges Bank A/c Government Petroleum Fund (5.3 million shares), BNP Pariba Arbitrage (10.4 million shares), Credit Suisse Singapore Ltd (5.2 million shares) and Macquarie Bank Ltd (over 5.3 million shares).
Indiabulls Power has fixed the price band between Rs 40 and 45 a share and plans to raise Rs 1,760 crore at the upper end of the price band. The last day of subscription would be October 15.
Indiabulls Power is offering over 300 million shares, including a greenshoe option for about 50 million shares in this IPO. Post offer, about 19 per cent of its equity will be diluted.
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