Adani Power IPO

Public issue of 301,652,031 equity shares of rs. 10 each of adani power limited (“apl” or the “company” or the “issuer”) for cash at a price of rs. [—] per equity Share (including a share premium of rs. [•] per equity share) aggregating to rs. [—] million (the “issue”). The issue includes a reservation of up to 8,000,000 Equity shares of rs. 10 each for the eligible employees (the “employee reservation portion”). The issue less the employee reservation portion i.E. 293,652,031 Equity shares is referred to as the “net issue”. The issue will constitute 13.84% of the post issue paid up capital of the company and the net issue will Constitute 13.47% of the post issue paid up capital of the company.

This Issue has been graded by ICRA Limited and has been assigned IPO Grade 3 indicating average fundamentals through its letter dated July 2, 2009. The IPO grading is assigned on a five point scale from 1 to 5 with an “IPO Grade 5” indicating strong fundamentals and an “IPO Grade 1” indicating poor fundamentals.

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