Coal washeries operator ACB India is planning to raise up to Rs 1,000 crore through initial public issue (IPO) and offer for sale (OFS) routes in this fiscal. In this regard, the company has filed the draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
The company is likely to raise Rs 575 crore through primary issue and sub shares and may also make an offer-for-sale for around 12.5 percent of the existing capital of the company. ACB India may also commission two power projects of total 900 MW power generation capacity in Chhattisgarh by 2014, entailing total investment of about Rs 4,000 crore. The company has already pumped about Rs 1,100 crore in both the plants.
The company had forayed into power sector in 2007 with the commissioning of its first 30 MW power project in Chhattisgarh.
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