Indian Stock Market News and Views.
Adani Power IPO
The Adani group’s subsidiary Adani Power which is on the works of completing the country’s largest coal-based Mundra power project in a record time by 2012. The project would be completed in 28 months which would require normally 36 months for the completion. The IPO of Adani Power which was scheduled to hit the capital market in November has been put off due to the worst conditions of the market. The company has filed the DHRP on 20 April, and is now waiting for SEBI’s clearance. The company plans to hit the market with its IPO on July second week. The funds that are to be colleted has been changed from Rs.5630 cr to Rs.2000 cr.
Adani power whose earlier plans was to set up generating capacity of 10,000 mw is going ahead with 6,600 mw at Mundra and Tiroda in Maharashtra. The company is planning to set up 1320 mw capacity at Kawai and 1980 mw at Dahej. Ready for Adani Power IPO wait till the information fills.
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