JKSPDC plans IPO to raise capital for power projects
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19 Nov 2012
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Manager and operator of hydro-electric power projects in the state of Jammu and Kashmir (J&K), Jammu Kashmir State Power Development Corporation (JKSPDC) has decided to tap the capital markets with an initial public offering (IPO). Basharat Dar, Managing Director JKSPDC said, “We are going public with Initial Public Offering (IPO) to be a listed company (on the stock exchange)--we have initiated on that.” Meanwhile, no financial details regarding the IPO were available but reports suggest that the proceeds of the IPO would go for the implementation of power projects. The state owned company is looking to encourage participation of local entrepreneurs in the power sector and has asked them to participate in the bidding process of the power projects and take advantage of the incentives available under the policy. J&K has the potential for generation of over 20,000 MW of hydel power. JKSPDC wants to add 8000 MW of hydro power in the state in the 12th and 13th plan. |
| Source: Dion Global Type: IPO Related |
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