Adani Power today said the price band for its Initial Public Offering that will hit the market on July 28 has been fixed between Rs 90 and Rs 100 per share.
"Adani Power has fixed the price band between Rs 90 and Rs 100 per equity share for its IPO that opens on July 28," a company statement said.
Adani Power has already filed the Draft Red Herring Prospectus (DRHP) with the market regulator Securities and Exchange Board of India.
It proposes to raise Rs 2,200 crore through the IPO by offloading 33.7 crore equity shares. After listing, promoter Adani Enterprises will hold about 73.5 per cent in the power firm.
The company is currently implementing two thermal power plants in Gujarat, one in Mundra and another in Tiroda, totalling 6,600 Mw capacity.
The overall debt requirement for the two projects is Rs 22,000 crore, which has been arranged from the State Bank of India, ICICI Bank, Power Finance Corporation (PFC) and Rural Electrification Corporation (REC).
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