Hindustan Powerprojects may go the IPO way next year, Ratul Puri, Chairman, HPPPL

The Chairman of HPPPL, Ratul Puri recently informed the media about the organisation’s IPO planning.With an aim to generate 5,000 MW of energy by the year 2017, the private sector power producer Hindustan Powerprojects Pvt Ltd (HPPPL) is looking at raising its capital through Initial Public offering (IPO) next year. The Chairman of HPPPL, Ratul Puri recently informed the media about the organisation’s IPO planning.

While commissioning the first phase of Anuppur thermal power plant in Anuppur district of Madhya Pradesh, Ratul Puri told a concerned media authority, “The time and size of the public issue will depend on the company’s funding requirement.”

Hindustan Powerprojects invested almost Rs 8,000 crore in building the thermal power plant at Anuppur, where 1,200 MW of power will be generated at phase one. The generated power at Anuppur plant will be majorly sold to Madhya Pradesh and Uttar Pradesh at the nominal rate of Rs 3.80 per unit.

Hindustan Powerprojects has started working on phase two of Anuppur power plant, which will generate 1,320 MW capacities with an investment of almost Rs 9,000 crore. This second phase is believed to be complete in approaching 4 years.

Last year HPPPL planned Initial Public Offering to ensure liquidity for the company’s private equity investors. Prior to that, the power player was targeting to raise funds for its renewable energy projects as it was planning to sell off the shares of Hindustan Clean Energy, through an initial public offer (IPO) only. Hindustan Clean Energy is a subsidiary of Hindustan Powerprojects. Concerned media was informed that the amount raised from that IPO, i.e. $ 1 billion, was supposed to be utilised for attaining the company’s goal of combined 1,000 MW of solar photovoltaic (PV) power generation capacities in and around India.

HPPPL traces back its inception to the year 2008 and till date, the renewable energy-focused organisation has established solar plants from length to breadth of India and the states that it has covered, include Gujarat, Rajasthan, Tamil Nadu and West Bengal.

HPPPL has already commissioned solar power projects across the globe worth 400 MW, out of which 250 MW was commissioned in India only.

Tags

You may also like...

Home | Contact Us | Twitter