Indowind Energy will list on the bourses today. The offer price has been fixed at Rs 65 per share. The company had entered capital market with initial public offering (IPO) of 1.25 crore equity shares of Rs 10 in the price band of Rs 55-65. The net issue would constitute 25% of the fully diluted post issue paid-up capital of the company. The issue was subscribed 0.97 times.

Analysts say that it was too small a issue and did not look very substantial. It did make 1 time and fixed issue price at Rs 65 per share. It's too risky bet though it is in good space, but is a too risky company. It may list at around Rs 58-60, whether it may hold that band, is very difficult. It deserves Rs 50 levels and if it goes above Rs 65 that would be stretched, they say.

The company intends using the proceeds for adding 9 MW capacity in Chitradurga, Karnataka, to purchase hydraulic cranes, and buy second-hand windmills. The power generated at Chitradurga will be sold to Karnataka Power Transmission Company. UTI Securities is the book-running lead manager for the issue, Canara Bank as the co-book running lead manager, while Keynote Corporate Services is an adviser to the issue.