Avantha Power & Infrastructure IPO : Files DRHP with SEBI

by khalid on 03/04/2010 · 0 comments

Avantha Power & Infrastructure Ltd. is an Avantha Group company. The company has filed a Draft Red Herring Prospectus (DRHP) with market regulator SEBI to float its IPO. The company wants to raise money from primary market with an IPO of Rs 1250 crores through the equity shares of face value Rs 10, with a premium decided by the 100% book building process. The Company was earlier known as BILT Power Limited.

The company has four captive thermal power plants (CPPs) with an aggregate capacity to generate 165 MW. These plants are located in Bhigwan, Ballarpur (both in Maharashtra), Yamunanagar (Haryana) and Sewa (Orissa).

The proceeds of this IPO will be used to partly finance the cost of construction and development of Chhattisgarh Power Project Phase I and Madhya Pradesh Power Project Phase I. The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

Book running lead managers to the issue are Enam Securities, Kotak Mahindra, Citigroup and Axis Bank.

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