Hindustan Power IPO likely next year, says Ratul Puri

NEW DELHI: Hindustan Power could go for a public issue next year, its chairman, Ratul Puri, said on Thursday.

The time and size of the public issue will depend on the company's funding requirement, Puri said at the commissioning of the first phase of Hindustan Power’s Anuppur thermal power plant in Madhya Pradesh.

The Anuppur thermal power plant has been built at a cost of Rs 8,000 crore. Majority power from the first phase of 1,200-mw of the project will be sold to Madhya Pradesh and Uttar Pradesh at about Rs 3.80 per unit, the chairman said.

The company has started work on phase two of the plant, which will add 1,320 mw capacity, at an investment of Rs 9,000 crore. The second phase is expected to be completed in four years.