IPO market dampened by Adani Power IPO


The company, which raised Rs 3,016.52 crore through this IPO, opened at Rs 105 and Rs 108 on BSE and NSE respectively but could not sustain the momentum and even fell below the issue price in the intra-day trade on Thursday. The net issue constituted 13.47 per cent of the post-issue paid-up equity share capital of Adani Power, whose net proceeds were meant to part finance the development of Mundra Phase IV power project for 1,980 MW and fund equity contribution in its subsidiary.

Adani Power Chairman Gautam Adani’s take on the debut listing is not very  inspiring either. He simply said: “The market will find its own price. ”

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