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Indiabulls Power IPO subscribed 22 times on QIB support
Indiabulls Power's initial public offer (IPO) received an overwhelming response from investors, especially QIBs (qualified institutional investors). The issue was subscribed 21.84 times, as per the data available on the NSE website.
The company has five thermal power projects under development, which will have a combined installed capacity of 6,615 MW. Projects include -:
1 - Amravati Phase I Power Project will have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.
2 - Nashik Power Project will consist of five units of 135 MW each and two units of 330 MW each, with a combined capacity of 1,335 MW.
3 - Bhaiyathan Power Project will have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.
4 - Amravati Phase II Power Project will have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.
5 - Chhattisgarh Power Project is expected to have two super-critical units of 660 MW each, with combined capacity of 1,320 MW.
Apart from these projects, the Company is developing four medium sized hydro-power projects of 60 MW, 30 MW, 46 MW and 31 MW in Arunachal Pradesh.
For the year ended March 31, 2009, it has reported profit of Rs 82.96 crore on total income of Rs 141.34 crore on the consolidated basis.
Morgan Stanley India Company Pvt Ltd is the book running lead manager and Karvy Computershare Pvt Ltd is the registrar to the issue.
The Company has certain foreign investors such as FIM Limited and LNM India Internet Ventures Limited as its shareholders.
