Jul 20, 2009

Adani Power Ltd - IPO Review

Adani Power Limited , Part of the Diversified adani group which has interest from Ports, Gas Distribution, Real Estate and Agro is coming out with IPO its Group Company adani power with objective of raising funds for various power project across several states.

APL is to implement 2640 MW Coal based Thermal Power Project at Mundra, Dist. Kutch, Gujarat, India. APL also propose to implement 1320 MW Coal based Thermal Power Project at Tiroda, Gondia, Maharashtra through its 100% subsidiary, Adani Power Maharashtra Ltd. (APML)

Business Interests:

- Power Generation
- Power Trading
- Power Transmission
- Coal Trading
- Coal Mining
- Logistics ( Coal )

Sector Outlook:

Power sector remains a very attractive investment for various players due to the shortage the country is facing and the huge opportunities which lies due to the initiatives taken by the government by Starting UMPP to deal with this problem.

Adani power will be a strong player due to its strategic location along with support from its self owned coal mines & fleet of vessels to transport coal required for power generation to mundra port & other part of the country were it intends to starts projects in near future.

Current Power Projects:

1. Mundra Phase 1 & 2 with a capacity of 1,320 MW. Both phases are split into sub - generation of 330 MW each. The first phase of 330 MW each is expected to get commissioned by June 2009 and the full project is expected to get commissioned by Feb 2010.

2. Mundra Phase 3 with a capacity of 1,320 MW, out of which 660 MW will be commissioned in Jan 2011 and the remaining by June 2011.

3. Mundra Phase 4 project with a capacity of 1,980 MW, out of which 660 MW will be commissioned by Aug 2011 and the remaining by April 2012.

4. Tiroda Power Project with a capacity of 1,980 MW, out of which 660 MW will be commissioned by July 2011 and the remaining by April 2012.

**** All dates are estimates.

Issue Details:

Adani Power, with total revenues of Rs 196 billion, is entering the capital markets with an initial public offering of 301,652,031 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.


Issue Duration:

The issue will open on July 28, 2009, and close on July 31, 2009.

Stocktrendz Puts subscribe on adani power with an investment point for longterm

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