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<p><a href="http://www.azurepower.com/" target="_blank" rel="noopener">Azure Power Global</a> has offered another 14,800,000 equity shares on the New York Stock exchange. Per the company, it has priced its underwritten public offering of 14,800,000 equity shares at a public offering price of $12.50 (~₹926.07) per equity share.</p>
<p>The offering is expected to close on October 10, 2018, subject to customary closing conditions.</p>
<p>As part of this offering, the firm has granted the underwriters a 30-day option to purchase up to an additional 1,200,000 equity shares at the public offering price, after deducting underwriting discounts and commissions.</p>
<p>The company’s current shareholders, CDPQ Infrastructure Asia Pte Ltd., IFC GIF Investment Company I and International Finance Corporation, have each indicated their intention to purchase up to approximately $100 million (~₹7.3 billion), $40 million (~₹2.95 billion), and $10 million (~₹73 million) of the equity shares in the offering at the public offering price.</p>
<p>As of October 5, 2018, Azure Power Global was trading on the NYSE at a price of $12.28 (~₹909.77) per share.</p>
<p>Azure Power Global started trading on the NYSE in <a href="https://mercomindia.com/azure-power-global-shares-drop-ipo/" target="_blank" rel="noopener">October 2016</a>. On the first day of trading, Azure Power Global’s shares had opened at $16.12 (~₹1,194.26)/share.</p>
<p>Per Mercom’s <a href="https://mercomindia.com/product/india-solar-project-tracker/" target="_blank" rel="noopener">India Solar Project Tracker</a>, Azure Power has around 1 GW of large-scale solar photovoltaic (PV) projects in-operation and ~1.9 GW of solar projects are under the development pipeline.</p>
<p><a href="https://mercomindia.com/azure-revenue-up-29-percent-q1-19/" target="_blank" rel="noopener">Recently</a>, the company announced its consolidated results for the first quarter ending June 30, 2018. Total revenue in the first quarter of FY19 was ₹2,422.5 million (~$35.4 million), which was up 29 percent from ₹1,877.9 million (~$27.36 million) during the same period in 2017. The increase in revenue was primarily driven by the commissioning of new projects, according to the company.</p>
<p>Previously<a href="https://mercomindia.com/azure-revenue-fiscal-year-2018-118-3-million-dollars/" target="_blank" rel="noopener">, Mercom also reported</a> that Azure’s total revenue during fiscal year 2018 was ₹7,700.6 million ($118.3 million), up 84 percent from ₹4,183.0 million (~$61.5 million) during the same period in 2017.</p>
<p>Image credit: Flickr</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/saumy/" class="vcard author" rel="author"><span class="fn">Saumy Prateek</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="50" /></p>
<p><strong style="text-decoration: underline">Saumy Prateek</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/saumy/" target="_blank" rel="noopener">More articles from Saumy Prateek</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2023/12/saumy-edited-1.png" width="79" height="102" /><a href="https://mercomindia.com/author/saumy/" rel="noopener"><strong>Saumy Prateek, </strong> </a>is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism &amp; Mass Communication from the Manipal Institute of Communication at Manipal University.<a href="https://mercomindia.com/author/saumy/">More articles from Saumy Prateek.</a></div>
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Azure Offers 14,800,000 Equity Shares on New York Stock Exchange at $12.50

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