India’s Hindustan Powerprojects eyes IPO in H2 2016 – report
Dec 31, 2015 12:10 CET
December 31 – Indian firm Hindustan Powerprojects Pvt, which has about 500 MW of solar capacity, may go public in the second half of 2016, business daily Mint said today, citing a company spokesman.
The power company, previously known as Moser Baer Projects Pvt, is engaged in the development of coal and hydropower plants in addition to solar. Back in 2014, Hindustan Powerprojects said it was planning an initial public offering (IPO) for its solar energy subsidiary, but the strategy has now changed.
An IPO for the holding company will come first, while the solar and thermal power units will list later, the spokesman told Mint. Nothing is definite yet, but the IPO is anticipated between July and December 2016, according to the report.
Hindustan Powerprojects says on its website it has 500 MW of solar power generation capacity and aims to commission 2 GW by 2017. Overall, it has “a vision of commissioning” 7 GW by 2020 in thermal, solar and hydro. US private equity major The Blackstone Group LP (NYSE:BX) invested USD 300 million (EUR 275m) in the company in August 2010 and holds a stake of over 30% in it.
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