Avantha Power is reportedly mulling to raise up to Rs 1,000 crore through an
initial public offer (IPO) in about 12 -18 months.
The company is setting up two plants of 600 MW each in Chhattisgarh and
Madhya Pradesh at a cost of Rs 5,600 crore. The funds for the projects have
been already tied up through 30 per cent equity and the rest through debt. The
two plants are likely to go on-stream by 2012.
The company intends to enhance capacity to 5,000 MW in five-six years and
therefore needs more funds for the expansion.