Adani Power IPO Unchanged on listing

Adani Power, which raised 30.2 billion rupees in the IPO, was almost unchanged in its debut. This may be because of speculation that the company’s future expansion may slow. The company will be using the funds to partly finance power projects in the state of Gujarat and Maharashtra.

The issue price of the IPO was fixed at Rs100 per share and at the end of the day it was seen at Rs100.1 This share should be seen as a long term investment. Any huge surge in this share soon is highly unlikely.