Adani Power to list on the exchanges today

Adani Power will list on the exchanges today. The company’s initial public offering raised nearly Rs 3,000 crores through the issue and the IPO price is fixed at the upper band of Rs 100 per share.

The issue which closed on July 31, was oversubscribed 22 times. T Rowe price was one of the anchor investors. QIB was subscribed 39 times, HNI 8.6 times and Retail was subscribed 3 times.

Speaking to CNBC-TV18 earlier, the management indicated the likely tariff structure for power.

CLSA estimates perfect execution NAV of Rs 90 while Motital Oswal estimates NPV of Rs 68-93 for the company. It has market cap of Rs 21,800 crore. Promoters’ stake falls to 73.50% from 86.97%. The stock is not available in F&O despite meeting criteria. Mundra Port & SEZ, Adani Enterprises are also not available in F&O.

Adani Power has 6 projects worth 9900 MW. Its 6600 MW project is fully visible.

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