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Indowind Energy to hit capital market tomorrow

Indowind Energy to hit capital market tomorrow
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First Published: Mon, Aug 20 2007. 05 29 PM IST
Updated: Mon, Aug 20 2007. 05 29 PM IST
PTI
Chennai: Indowind Energy Ltd’s initial public offering would open on 21 August and close on August 24.
Addressing a press conference here, company chairman K V Bala said the company was in the process of implementing additional capacity of nine MW Wind Farm Project at Chitradurga district in Karnataka and has already acquired 125.23 acre for this purpose.
The company also proposes to purchase hydraulic cranes, foreclose of existing lease accounts with banks and purchase existing running windmills from banks, he said.
Indowind was entering the capital market with a public issue of 1,25,00,000 equity shares of Rs 10 each through 100 per cent book building process.
The price band for the issue had been fixed at Rs55-65 and the net issue would constitute 25% of the fully diluted post issue paid up capital of the company, he said.
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First Published: Mon, Aug 20 2007. 05 29 PM IST