Indiabulls Power IPO well oversubscribed after first day

11 Oct 2009

Indiabulls Power drew a strong response from investors on the first day of bookbuilding for its $327m initial public offering on Monday, in a sign of continued demand for new Indian listings.

Indiabulls Power, which is being floated by property developer Indiabulls Real Estate, drew orders worth 5.95 times the number of shares on offer as investors backed its plans to build five thermal power plants to meet India’s fast-growing demand for electricity.

The enthusiastic response on the first day ...

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