Adani Power, a subsidiary of Gujarat-based conglomerate Adani group, is likely to hit the market with its initial public offering by mid-July, a top company official said on Friday.
"We are waiting for a nod from regulator SEBI to bring out the IPO," the official said.
The company, which has recently commissioned its first unit of 350 MW at Mundra power plant in record time of 28 months, intends to raise around Rs 2,000 crore from the market, he said.
According to the official, in three years, APL will generate 6,600 MW power from its plants in Mundra (Gujarat) and Tirola (Maharashtra).
"Mundra will be the largest thermal plant of the country with capacity of 4,620 MW while the Maharashtra based power plant will be of 2,000 MW capacity," he said, adding that Mundra will be fully commissioned by 2012.
APL has already inked long-term power purchase agreements (PPA) with various state electricity boards, including that of Gujarat, Maharashtra and Haryana, for supply of 4,744 MW.
The company was expected to go public last November but choppy market conditions forced it to defer its plans and wait for the market to improve.
"We are waiting for a nod from regulator SEBI to bring out the IPO," the official said.
The company, which has recently commissioned its first unit of 350 MW at Mundra power plant in record time of 28 months, intends to raise around Rs 2,000 crore from the market, he said.
According to the official, in three years, APL will generate 6,600 MW power from its plants in Mundra (Gujarat) and Tirola (Maharashtra).
"Mundra will be the largest thermal plant of the country with capacity of 4,620 MW while the Maharashtra based power plant will be of 2,000 MW capacity," he said, adding that Mundra will be fully commissioned by 2012.
APL has already inked long-term power purchase agreements (PPA) with various state electricity boards, including that of Gujarat, Maharashtra and Haryana, for supply of 4,744 MW.
The company was expected to go public last November but choppy market conditions forced it to defer its plans and wait for the market to improve.
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