Indowind Energy fully subscribed on last day
Initial public offer of Indowind Energy on Friday got fully subscribed on its last day of issue.
By PTI |
MUMBAI: Initial public offer of Indowind Energy on Friday got fully subscribed on its last day of issue.
According to the latest data available on the stock exchanges, the IPO received bids for 1,66,32,500 equity shares for the 1.25 crore shares on offer.
The price band of the issue, which closes with the end of working hours today, has been fixed between Rs 55 and Rs 65 per share.
Chennai-based Indowind Energy sells ready-to-buy wind farm projects to corporates and green power to corporates and electricity boards.
The IPO proceeds would be utilised for business expansion, including setting up of a 9 MW wind project Chitradurga in Karnataka which would cost around Rs 49.5 crore. The company has already acquired 125.23 acres land for this purpose.
Indowind's clients include Karnataka Breweries and Distilleries Ltd, Hindustan Coca Cola Beverages, United Breweries and Delphi Automotive Systems.
The company had posted a total income of Rs 27.75 crore and profit after tax of Rs 6.5 crore for the year ended June 30, 2007.
According to the latest data available on the stock exchanges, the IPO received bids for 1,66,32,500 equity shares for the 1.25 crore shares on offer.
The price band of the issue, which closes with the end of working hours today, has been fixed between Rs 55 and Rs 65 per share.
Chennai-based Indowind Energy sells ready-to-buy wind farm projects to corporates and green power to corporates and electricity boards.
The IPO proceeds would be utilised for business expansion, including setting up of a 9 MW wind project Chitradurga in Karnataka which would cost around Rs 49.5 crore. The company has already acquired 125.23 acres land for this purpose.
Indowind's clients include Karnataka Breweries and Distilleries Ltd, Hindustan Coca Cola Beverages, United Breweries and Delphi Automotive Systems.
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The company had posted a total income of Rs 27.75 crore and profit after tax of Rs 6.5 crore for the year ended June 30, 2007.
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