Jindal Power's IPO to fund Rs 22,000-crore expansion projects

Proceeds of Jindal Power's estimated Rs 7,200-crore initial public offer will part finance thermal power expansion projects in Chhattisgarh and Jharkhand.

"We are planning a 2,400 MW brownfield expansion at our existing 1,000 MW Tamnar plant at Raigarh, Chhattisgarh. We have already tied up Rs 10,000 crore for this project, which we expect to commission by June 2012," said Deputy Managing Director Jindal Power Sushil Maroo.

The company expects to launch the IPO by June-July.

View the full report in The Economic Times.