Jindal Power Ltd (JPL), part of Jindal Steel and Power Ltd (JSPL), is likely to raise Rs 4,000 crore from the primary market to part fund its 2,400 MW super thermal power project in Raigarh in Chhattisgarh.
The company is planning to invest Rs 13,400 crore for the proposed project which has a debt : equity ratio of 75:25. Currently, JPL is holding talks with a host of banks to raise Rs 10,000 crore as debt for the project. The deal is likely to be finalised shortly. The project is slated to be operational by 2013.
The Board of Directors of JPL is likely take a decision in regards to initial public offer (IPO) shortly.
Source : ProjectsToday
|