Adani Power will file its Draft Red Herring Prospectus, or DRHP, in next 10 days, reports CNBC-TV18, quoting sources. The company is going to raise close to USD 1 billion via this IPO.
Adnani Power a 86% subsidiary of Adani Enterprise has a power generation project pipeline of 9,900 MW.
During October 2007, Adnani Power had offered 9% stake to 3i Capital for Rs 900 crore. Adani Enterprises stake is valued at over Rs 15,000 crore.
The company plans to dilute close to 15% stake for Rs 4,000-5,000 crore. Thus, the company is valuing between Rs 20,000-25,000 crore.
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