Nirmal Bang has come out with its research report on Adani Power IPO. Adani Power IPO will open for subscription with an initial public offering of 301,652,031 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process on July 28, 2009 and will close on July 31, 2009. The Adani Power IPO price band is fixed at Rs 90-100 per share.
The research firm has recommended investors to subscribe to the issue.
Nirmal Bang's report:
Adani Power Ltd. (APL) is a power project development company, which is developing, and will operate and maintain, power projects in India. The company has four thermal power projects under various stages of development, with a combined installed capacity of 6,600 MW.
We believe that Reliance Power is the best comparable company as both the companies are implementing large power plants and do not have any existing operational revenue generation. We tried to compare both the company on the basis of Enterprise Value(EV) per MW, Subscribe.
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Source: Moneycontrol.com
Friday, July 24, 2009
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