Utility Adani Power Ltd’s initial public offering (IPO) worth up to about $625 million, which closed on Friday, has been subscribed over 20 times, according to data on the National Stock Exchange. Adani Power had set a price range of 90-100 rupees per share for the IPO

of 248.8 million shares, and the strong response means the company is
likely to price the shares at the top of the projected range, bankers
said.
The power project developer received over 5 billion bids for its IPO,
which had opened on Tuesday. Anchor investors were allocated 52.86
million shares. Adani Power is the first large IPO in more than 18
months, with most share sales this year being secondary offerings.
State-run hydro power producer NHPC’s IPO to raise up to 60.4 billion
rupees ($1.26 billion) opens Aug. 7.

Source: Reuters

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• Adani to set up like 100 million cargo handling port in Orissa

    Bhubaneswar, Feb 18: The Adani Group today submitted a proposal to develop a 100 million ton cargo handling port in Orissa’s Jagatsinghpur district close to the Paradeep Port with an investment of Rs 10,000 crore. The group wanted to develop the proposed Adani Kalinga port about 5 to 20 km

• CSIC s $ 2.2 billion IPO illustrated

    State run shipbuilder and equipment manufacturer China Shipbuilding Industry Co (CSIC) will raise up to 14.7 billion yuan ($2.2 billion) in an A-share listing in Shanghai, the firm said in a statement on Friday.

• Coal India utilities u0026quot \ imports in May miss target

    Indian power companies’ coal imports may fall short of a 47 million metric-ton target in the year ending March 2011, according to a report by a shipbroker.

• Steel Authority stake sale plan is adopted by the end of the month

    India may approve a plan to sell as much as 160 billion rupees ($3.4 billion) of shares in Steel Authority of India Ltd. by the end of this month, Steel Minister Virbhadra Singh said. The stake sale in the nation’s second-biggest steelmaker will be completed in the year ending March

• Adanis plans to invest $ 171.8m in Hazira Port

    Adani Group arm Mundra Port and SEZ will develop non-LNG port facilities at Hazira in South Gujarat, the Economic Times reported. The group will commission 13 berths for bulk cargo and containers that will be developed in phased manner. Industry sources estimates MPSEZ to invest around $171.8 million in the

• India MMTC renewed import 12.5 mln tonne coal tender

    India’s MMTC has reissued a tender to import 12.5 million tonnes of thermal coal with new conditions aimed at enhancing competition, a tender document posted on the company’s website showed. The tender, for coal supplies to various plants of the country’s biggest power producer NTPC Ltd in the current fiscal year

• India MMTC renewed import 12.5 mln tonne coal tender

    India’s MMTC has reissued a tender to import 12.5 million tonnes of thermal coal with new conditions aimed at enhancing competition, a tender document posted on the company’s website showed. The tender, for coal supplies to various plants of the country’s biggest power producer NTPC Ltd in the current fiscal year

• Gautam Adani goes into overdrive for ports

    Gautam Adani, chairman of Adani Group, is aggressively expanding his ports business on India’s western coast.

• India MMTC coal tender topic again soon

    India’s MMTC Ltd will soon re-issue a tender to import 12.5 million tonnes of thermal coal with new rules aimed at enhancing competition, a company source said on Wednesday. “It will be re-issued any time. The issue is pending with the commerce ministry. As soon as we get clearance we will

• India MMTC again soon about coal supply

    India’s MMTC Ltd will soon re-issue a tender to import 12.5 million tonnes of thermal coal with new rules aimed at enhancing competition, a company source said on Wednesday. “It will be re-issued any time. The issue is pending with the commerce ministry. As soon as we get clearance we will

• Adani looking to buy the eastern foot of Gangavaram port

    Gautam Adani-controlled Mundra Port and Special Economic Zone Ltd (MPSEZ), which runs India’s biggest private port at Mundra in Gujarat, has opened talks to buy Gangavaram port in Andhra Pradesh, at least two people familiar with the discussions said, asking not to be identified.

• Palmer says that 8 billion U.S. dollars Coal Mine on Funding To Accord

    Resourcehouse Ltd., controlled by mining magnate Clive Palmer, said its $8 billion thermal coal mine in Australia will proceed after agreeing financing. A $5.6 billion loan with Export-Import Bank of China is expected to be completed next week and new investors have agreed to provide the balance, Chairman Palmer said

• Thoresen Thai unit to buy Unique Mining shares

    Thailand’s Thoresen Thai Agencies PCL TTA.BK said on Friday its wholly owned unit planned to buy a 48.46 percent stake in Unique Mining Services PCL UMSm.BK at a higher-than-market price of 23 baht each. The company’s wholly owned unit Hermelin Shipping will purchase Unique Mining shares from its two major shareholders

• Mundra port project consortium bags Mormugao

    Ahmedabad, Aug. 10 A consortium led by Mundra Port and Special Economic Zone Ltd, the largest private port in the country, has won the bid for development of coal handling terminal at port of Mormugao, Goa on a design, build, finance, operate and transfer basis, the company said here today.

• STX to buy wind turbine maker

     STX Heavy Industries Co., a unit of Korea’s STX Group, said Wednesday that it has signed a deal to buy a Dutch wind-power turbine maker for around 24 billion won ($19.4 million) as part of efforts to diversify revenue sources.  The company said it will spend more than 100 billion