this is for mr navin gupta lt me tell u onething that shorting is not so easy in this type of mkt and do u know when shorting can be done only if the company is allowed to trade in fno segment.the reason is that u can still hold your position till the expiry whereas u cannot hold the shorted stock for more than 1 day or else the auction would scrap ur capital to the extent u cant imagine so bfore taking any short decisions please take care and think abt it carefully and then u will realise the importance of shorting in this mkt which is totally ontrolled by FIIS
MUMBAI (Reuters) - Indiabulls Power Ltd, a unit of Indiabulls Real Estate, plans to open its initial public offering (IPO) from October 12 to 15, a company official said on Monday.
A senior group official had told Reuters in June the firm was targeting raising 15 billion rupees ($315 million) in equity, and markets have strengthened since then.
According to its draft prospectus released in July, the company plans to issue a maximum of 390.7 million equity shares, including a greenshoe option, constituting 19 percent of its post-issue equity.
Indiabulls Power is currently developing three power plants in western and central India with total capacity of 6,600 megawatts and will use the issue proceeds to fund two of these, said the company official, who has knowledge of the plans but declined to be named.
Indiabulls Real Estate currently holds 71.4 percent in the company. UK-based billionaire L.N. Mittal's LNM India Internet Ventures holds a 10.7 percent stake, while private equity firm FIM Ltd holds the remaining 17.9 percent.
In the past two months, state-run utility NHPC has raised $1.25 billion and private utility Adani Power raised $630 million through IPOs.
Indian firms have raised about $15 billion through share sales in the past six months, encouraged by a share market that has risen 75 percent so far in 2009. India's benchmark index hit a 16-month high last week.
(Reporting by Prashant Mehra; Editing by John Mair)
(For more news on Reuters Money click www.reutersmoney.in)
Friends remember my words equity is small in this ipo and dont sell it in first few minuts, after u get gain keep stop loss and safe your profits. grey market primium is 4- 4.50 now.