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Power Energy

Indiabulls Power filed its RHP, IPO opens on 12 Oct

10/06/2009 02:30:00 PM

Mumbai, Oct (EPC News): Indiabulls Real Estate Ltd has informed BSE that Indiabulls Power Ltd., a subsidiary of the company filed its Red Herring Prospectus (RHP) with the office of the Registrar of Companies, NCT of Delhi & Haryana, New Delhi, on October 1, 2009, in relation to its Initial Public Offer (IPO) of Equity Shares.

The company plans to open its IPO from October 12 to 15, with a target of raising Rs15 billion, issuing maximum of 390.7 million equity shares, including a greenshoe option, constituting 19 percent of its post-issue equity.

Indiabulls Power is currently developing three power plants in western and central India with total capacity of 6,600 megawatts and will use the issue proceeds to fund two of these.

EPC News Bureau