Navin Jindal-led Jindal Power's initial public offering to raise about Rs 7,000 crore may, Move to ensure slice of IPO pie for you and me, IOT Infrastructure mulls Rs 800 crore IPO by March, Trimax to raise Rs 250-cr through IPO
Midvalley Ent fixes IPO price band at Rs 64-70 per share.
Midvalley Entertainment to raise Rs 60 cr via IPO get delayed by a month and is likely to hit the capital market in April this year, a senior official of the company said today.
"Jindal Power IPO may come by end of March or mid-April, we have necessary clearances and the IPO will depend on the market condition, we are waiting for the right moment and the IPO size will be Rs 7,000 crore," Joint Managing director Anand Goel told reporters here.
Jindal Power's Managing Director RS Sharma had earlier said that the IPO is likely to come up in March, 2011.
The proceeds from the public offer would be utilised to part fund its around Rs 22,000-crore expansion projects in Chhattisgarh and Jharkhand.
Jindal Power will channelise 35 per cent of the power produced from the Chhattisgarh expansion project to the Chhattisgarh State Electricity Board (CSEB) and sell the rest through short, medium and long-term agreements.
The company would also execute two captive power projects of 660 MW at Godda and 1,320 MW at Dumka in Jharkhand by 2014.
Meanwhile, another Navin Jindal-promoted firm Jindal Steel and Power will commission three million tonnes per annum capacity phase-I of the 6 million tonnes per annum steel plant at Angul in Orissa by the end of this year.
"We expect the first phase of three million tonnes steel in Angul by the end of this year or early next year,"
The company plans to invest Rs 40,000 crore in Orissa to produce 12.5 million tonnes per annum steel in phases and generate 2,500 MW power over the next decade..
