Abhijeet Power Ltd, an unlisted utility with an operational capacity of 246 MW, plans to raise Rs 5920 crore debt for a 1,320 MW coal-fired power project by March, a source close to the development said
In the infrastructure sector, there is a lot of talk about the big NTPC tender. In an interview to CNBC-TV18, MS Unnikrishnan, managing director of Thermax Ltd and K Ravi Kumar, director of Abhijeet Power Ltd, managing director of JIPL and ex-chairman of BHEL, discuss about the tender.
In an interview with CNBC-TV18, K Ravi Kumar, director of Abhijeet Power and ex-chairman of BHEL said, as far as the capital goods is concerned, there are some headwinds today; the high interest rates and also non coal availability and land acquisition problems.
Abhijeet Power has filed initial papers to raise up to USD 307.6 million via initial public offering, the company said in a newspaper advertisement on Friday.
K Ravi Kumar, director of Abhijeet Power Ltd, managing director of JIPL and former chairman BHEL, in an interview with CNBC-TV18's Mitali Mukherjee and Sonia Shenoy, spoke about his reading of the power sector.
Nagpur-based Abhijeet Power is in advanced stages of seeking regulatory approval for an initial public offering of up to Rs 1500 crore and expects to file papers by early February, a senior official told Reuters.