ACB India files IPO papers with SEBI

New Delhi-based ACB (India) has filed draft offer documents with SEBI on June 18, 2013 to list its equity shares on the NSE and the BSE.

ACB (India) Limited, along with its subsidiaries and associates, is largest and most efficient coal washery operator in the private sector with an aggregate designed beneficiation capacity, on a proportional basis, of 62.34 million tons per annum. ACB's beneficiation operations are spread over 16 locations in India in the major coal bearing states of Chhattisgarh, Orissa, Maharashtra and Andhra Pradesh and include the largest coal beneficiation plant in India in Dipka (Chhattisgarh), with a designed capacity of 12.00 million tons per annum. The Company’s core business is coal beneficiation and power generation. Company's Corporate Office is in Gurgaon, and also have offices at various other locations in India. Also Read: Edynamics Solutions closes at day's high of Rs 26.65 The coal washery operator intends to use issue proceeds for part-financing the construction and development of the second phase of 30 MW blended coal based power project at Chakabura, Korba district, Chhattisgarh. Some portion of issue proceeds are also proposed to be used for investment in subsidiary, TRN Energy, for part-financing the construction and development of a 2 x 300 MW coal-based thermal power plant in the Raigarh District, Chhattisgarh (Raigarh Power Project). The equity shares are proposed to be listed on the NSE and the BSE. Global co-ordinators and book running lead managers are IDFC Capital Limited, Edelweiss Financial Services Limited, JP Morgan India Private Limited and Macquarie Capital (India) Private Limited. The book running lead managers are Axis Bank Limited, ICICI Securities Limited and YES Bank Limited. Registrar to the issue is Link Intime India Private Limited.