Adani Power IPO : Adani Plans to Raise funds through IPO
Adani Group CFO, Mr.Ameet H Desai in an statement said that the company has sold close to 10% in Adani Power to Private Equity Firm 3i Group. They would even consider going for Adani Power IPO, if the company needs more money to invest in the company for the future growth plans they have set for the company.
3i Group is a leading Private Equity Firm, which will invest around 227 million US Dollars in Adani Power via 3i India Infra funds. After the sale of 10% stake to the 3i Group, Adani Enterprises stake in the Adani Power will come down to 90%.
Adani Power is presently developing a 2,640 MW coal power plant in Gujarat and the company has proposals to the install a 1300 Mw power generation plant in Maharasthra. Adani Power has set its target of 6000-7000 MW power Capacity in the coming four years.
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