Adani Power, the dirty energy company which went into a historic IPO on Dalal Street with never before heard optimism from Foreign Investors has no BUYERS at price below its IPO price. The stock which listed at Rs 103 has hit a LOW of Rs 99.20 on heavy volumes on the NSE. Currently trading at Rs 100.40.
Small Indian Investors were cautioned by Dalal Street to stay away from the IPO because of the background of promoters and Dirty Energy which will be heavily penalized in the Long Term.
The listing of Adani Power is a warning sign for promoters of IndiaBulls Power to stay away from the primary markets.