Monnet Power plans IPO in 3 years
Monnet Power plans to raise around Rs 2,500 crore by selling shares in a public offer within the next three years to fund its 2,000 MW power generation project.
By ET Bureau |
NEW DELHI: Monnet Power plans to raise around Rs 2,500 crore by selling shares in a public offer within the next three years to fund its 2,000 MW power generation project.
The new project is expected to absorb investments of Rs 9,000 crore and the rest will be funded through debt and internal accruals, company chairman, Sandeep Jajodia said Friday.
A subsidiary of sponge iron maker Monnet Ispat, Monnet Power is at present involved in its 1,050 MW generation project in Angul, Orissa. The first phase of this project with capacity of 525 MW will be commissioned by June 2012 with the second phase scheduled for September the same year.
The new project is expected to absorb investments of Rs 9,000 crore and the rest will be funded through debt and internal accruals, company chairman, Sandeep Jajodia said Friday.
A subsidiary of sponge iron maker Monnet Ispat, Monnet Power is at present involved in its 1,050 MW generation project in Angul, Orissa. The first phase of this project with capacity of 525 MW will be commissioned by June 2012 with the second phase scheduled for September the same year.
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