Adani Group is planning a $1-1.5 billion initial public offering of its power unit, making it the first power company to come to market since the chaotic debut of Reliance Power in February.
It filed the ipo with the regualator on friday and is said to be the most advanced greenfield project in india.
What i am more interested in and i feel would be inthe interest of the investors too is whether the already listed group companies, mundra port and adani enterprises have a holding in the company and at what price. Secondly, what would be the issue price and thus the resultant gains to the companies on the listing of the company.
The 3i group had earlier aquired 10% stake in adani power for $227MN from adani enterprises whose subsidary adani power is. The current share holding of adani enterprises is not known but one thing seems to be sure that adani enterprises should see an increase in shareholder value once adani power is listed.
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