Avantha Power and Infrastructure is planning to revive plans to hit the capital market with an Initial Public Offer (IPO) to raise Rs 1,000-1,500 crore, after having failed in its first attempt about two years ago.
The company, part of the Gautam Thapar-led Avantha group, is currently in the process of finalising its initial plans for the IPO, which would include roping in bankers to prepare the draft documents for market regulator Sebi, sources said.
It may look at raising Rs 1,000-1,500 crore through the share sale, sources added.
A spokesperson of Avantha group did not reply to queries about the IPO plans.
Avantha Power & Infrastructure Limited (APIL) is a power generation company with 191 MW of operational thermal power capacity, 2,460 MW of generating capacity under various stages of implementation and 1,320 MW of generating capacity under planning.
Once all of these projects have achieved commercial operation, the company will have total installed capacity of