Adani Power Ltd (APL) is planning to raise Rs 2,000 crore by launching IPO by
end-July 2009 to part-fund its projects.
APL is likely to put forward 33.77 crore shares, out of a total of 228 crore,
with a face value of Rs 10 per share, the price band (premium) for which is yet
to be fixed.
Adani has four thermal power projects under various stages of development,
with a combined installed capacity of 6,600 MW. In addition, it is also planning
to develop two power projects with a combined installed capacity of 3,300 MW.
The company is going to utilize the issue proceeds - to part fund the
construction and development of Mundra Phase IV power project, for 1,980 MW;
funding equity contribution in subsidiary Adani Power Maharashtra Limited and to
part finance the 1,980 MW power project at Tiroda, Maharashtra and general
corporate purposes.
Also See:
Adani Power's
Unit I of Mundra plant goes on stream (26-May-09)