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Power Finance IPO Oversubscribed 77 Times

An overwhelming support from foreign institutional investors (FIIs) has made Power Finance Corporation’s IPO one of the most successful IPOs of recent times. This Rs 1000 crore issue has received applications of close to Rs 75000 crore.

The subscription levels in each category are:

Qualified Institutional Buyers (QIBs) – 137.17 times.
Non Institutional Investors – 48.80 times.
Retail Individual Investors (RIIs) – 8.53 times.
Employees – 1.14 times.

The issue would make up around 10.22% of the fully diluted post-issue capital of the company. The proceeds of the IPO would mainly be used for funding capital equipment, toll projects and enhancing the working capital.

This entry was posted on Tuesday, February 6th, 2007 at 9:28 pm and is filed under Initial Public Offerings - IPOs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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