#1
17th October 2012, 10:02 AM
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IFFCO Power Plant Latest News
Hy Guy’s here I am searching for the news about IFFCO's power arm postpones Rs 600 cr IPO so from where can I get news about it?
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#2
17th October 2012, 03:25 PM
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Re: IFFCO Power Plant Latest News
You want to know about news of IFFCO's power arm postpones Rs 600 cr IPO so according to Moneycontrol website, “ ndian Farmers Fertiliser Cooperative (IFFCO) said on Wednesday that it has postponed the launch of Rs 600 crore initial public offering (IPO) of its Chhattisgarh power project. “It will take another one-year to launch IPO,” IFFCO Managing Director, U S Awasthi, told reporters on the sidelines of a conference on cooperatives. The proposed IPO was to be launched in 2011—12 fiscal. It has, however, been delayed as its power subsidiary IFFCO Chhattisgarh Power Ltd (ICPL) has got the environment clearance only in May, this year, he said. ICPL, which is a JV between IFFCO and Chhattisgarh State Electricity Board (CSEB), plans to raise Rs 600 crore from the capital market to fund its power project, he added. The 1,320 MW coal based power plant is coming up at Salka village in the Sarguja district of Chhattisgarh. The total investment is estimated at Rs 7,544 crore with debt equity ratio of 70:30. IFFCO is one of the largest producers of chemical fertilisers in the country. The cooperative has expanded its existing units, set up joint venture companies overseas and diversified into new sector.” |
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