Indiabulls Power IPO price band seen at Rs 50-60 per share

Posted by admin in Alerts, Companies, News on Aug 27th, 2009 | no responses

Indiabulls Power plans a pre-IPO share placement to four investors: SBI, IDFC, HDFC Bank and Axis Bank, NewsWire18 reports quoting sources.

The Indiabulls Power IPO will comprise of 39.1 crore shares. SBI may buy 12% of IPO size in Indiabulls Power and the SEBI nod for the IPO is expected by September 2. The IPO’s price band is seen at Rs 50-60 per share, sources added.

If the price is set at Rs 60 per share, Indiabulls IPO’s size would be Rs 2,040 crore and the company’s market cap would be at Rs 12,300 crore. Indiabulls Real Estate will hold 61% in Indiabulls Power post the IPO.