Indian share sale flops

摘要

The failure of a Rsl3bn (US$206m) share offering in india power has underlined the difficulties of increasing public shareholdings in closely held Indian companies. Shareholder Power Trust launched a Rsl3bn offer for sale of India Power stock on April 6, in line with a January court order enforcing a 25% free-float requirement. However, after two days of bookbuilding, the institutional tranche was only 0.01% subscribed, while the retail tranche was 0.38% covered, according to BSE data.