India Bulls Power

Indiabulls Power Limited was established in 2007 to capitalize on emerging opportunities in the Indian power sector. It develops and intends to operate and maintain power projects in India. Indiabulls is currently developing Five Thermal Power Projects with an aggregate capacity of approximately 6600 MW. These projects include, Amravati Phase-I (1320 MW), Amravati Phase-II (1320 MW), Nasik (1335 MW) in Maharashtra, Bhaiyathan Thermal Power Project (1320 MW) & Chhattisgarh Power Project (1320 MW) in the State of Chhattisgarh. In addition to the above Indiabulls is also developing four medium size Hydro Power Projects in Arunachal Pradesh aggregating to 167 MW. Indiabulls has also entered into MoUs with the Govt. of Madhya Pradesh and Jharkhand for setting up of 2640 MW & 1320 MW Thermal Power Projects in each of these States respectively.

Indiabulls Power Ltd said it plans to raise up to Rs17.58 billion ($377 million) from an initial public offering (IPO) of 390.7 million shares that opens next week.The company on Wednesday fixed a price band of Rs40 to Rs45 for the offering, which opens on 12 October and closes 15 October. The company is selling up 19% f its equity in the offer, which includes a greenshoe option.Morgan Stanley India is the lead manager to the issue.

I think investors can attain listing gain if we purchase the stock in IPO.