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Indowind Energy IPO to opens on 21 August 2007

Monday, August 20, 2007

Indowind Energy aims to raise as much as Rs 81 crore through an initial public offer, opening on 21 August 2007, for expanding business, including setting up a wind farm project in Karnataka.

The Chennai-based company will offer 1.25 crore equity shares within a price band of Rs 55-65 per share. It will raise Rs 68.75 crore at the lower end and Rs 81.25 crore at the higher end. The IPO will open from 21 August 2007 and 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.

Posted by FR at 10:42 PM  

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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.