Indiabulls Power,a 100% subsidiary of Indiabulls Real Estate is considering for an initial public offer (IPO) to mop up about Rs 1,500 crore, intended to fund its three upcoming power projects in Maharashtra and Chhattisgarh.
The company is most likely to come up with an initial public offer in August this year and will offer around 34 crore shares for sale in the primary market.The company is expected to file its draft red herring prospectus in a week.
Looks like the management of Indiabulls Power are mentored by Reliance Anil Ambani group for raising money every now and then in the equity markets. We advise our invstors to keep away from IndiaBulls as they don’t have the massive base Anil Ambani has to sustain when the markets urn out of favor.