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Anil Ambani Group firm Reliance Power plans to raise Rs 76,472.80 crore of debt as part of its mega plans to develop 12 projects to generate 24,200 MW of electricity with an estimated expenditure of Rs 100,000 crore.
The projects to be developed include the 3,960-MW Sasan ultra mega power project in Madhya Pradesh, Reliance Power said in its draft prospectus (DRH)) filed with market regulator SEBI for initial public offer.
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Of the total issue size of 130 crore shares, the offering to the public is 114 crore shares. The balance 16 crore shares would be picked up by promoters. Separately, Reliance Power has already asked three banks to arrange 6 billion dollars (Rs 24,000 crore) of secured syndicated loans, the company said.
According to the DRHP, Macquarie India Advisory Services, ABN Amro Bank and Deutsche Bank have been mandated by the firm to arrange for syndicated loans of two billion dollars each.
The company's IPO will be the biggest in the history of the Indian capital market and is likely to surpass DLF's Rs 9,200 crore IPO early this year.
As per the proposal, 80 per cent of the estimated cost of development 12 power sector projects will be met through debts and remaining through equity including promoters contribution.
Among major projects, the company will be developing the 3,960 MW Sasan plant in Madhya Pradesh. The supercritical coal-fired power project is expected to be the largest pithead thermal station at a single location in country. It is scheduled to be completed by April 2016, reports PTI.
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Today's Special Column
with Pronab Sen
Union Ministry of Statistics and Programme Implementation , Chief Statistician and Secretary


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