Indiabulls Power, a subsidiary of Indiabulls Real Estate has started its pre-IPO placement with strategic investors.
The indicative pre-IPO price is in the range of Rs 44 a share. The pre-IPO placement could fetch Indiabulls Power about Rs 600 crore. The company will offer 39 crore shares.
At indicative Rs 44/share, the IPO issue could be valued at Rs 1,700 crore. At the pre-IPO price, the company could see valuation of around Rs 8700 crore.
The company has four leading projects in the pipeline, which add up to over 5200 mega watt (MW) of power projects. The projects included 1,335 MW in Nashik and 1,320 MW in Chhattisgarh, Amravati and Bhaiyathan.
