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Indowind Energy IPO subscribed 0.52 times on day 1
Tuesday, August 21, 2007
Indowind Energy IPO was subscribed 0.52 times on first day. It received total bids for 64.45 lakh shares compared with 1.25 crore shares on offer.
IPO is priced between Rs 55 - Rs 65, and will close on 24 August 2007.
The money raised through this IPO will be invested in a plant at Chitradurga in Karnataka. The 9-mega watts (MW) wind farm plant will cost Rs 49.5 crore plant. The company has acquired 125.23 acres land for this purpose.
The company is restricted to only Tamil Nadu and Karnataka because of limited funds. But with time, it aims to move to other states as well.
The company sells ready-to-buy wind farm projects to corporates as well as electricity to corporates and state government.
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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.
