3i Group-Backed Adani Power To File For IPO
3i Group-backed Adani Power is coming up with an IPO which could see a mop up of $1-1.5 billion, reports Reuters. The diversified business conglomerate operates in the verticals of edible oil, logistics, power generation, coal, oil and gas exploration, gas distribution, real estate, ports, special economic zones and IT-enabled services. Adani Power is expected to file a draft IPO prospectus with the market regulator by Friday. This will be the first power IPO after Reliance Power entered the market with 73 times oversubscription and the subsequent tanking of the stock below the IPO price. (more…)
