Avantha Power All Set To Enter The Capital Market On October 11 2010 (19-Aug-2010)
Avantha Power & Infrastructure, a part of the Gautam Thapar promoted Avantha Group, is all set to enter the capital market on October 11, 2010 with the public offer to raise up to Rs 1250 crore .The company is also considering a Pre-IPO Placement of up to 65,000,000 equity shares and/or aggregating up to Rs 300 crore with certain investors.
The book running lead managers to the issue are Enam Securities, Axis Bank, Citigroup Global Markets India and Kotak Mahindra Capital Company.
The objects of the issue is to - part finance the construction and development of Chhattisgarh Power Project Phase I; part finance the construction and development of Madhya Pradesh Power Project Phase I; and fund expenditure for general corporate purposes.
Promoter group holds 99.69% stake in the company, including 31.61% stake of Crompton Greaves, 27.88% of SFSL, 19.92% of SICL and 11.37% of BPHL.
Avantha Power is a power generation company with 191 MW of operational thermal power capacity,2,400 MW of generating capacity under various stages of implementation and 1,320 MW of generating capacity under planning spread across India.
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