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Jindal Power delays plan of raising 
7,200 Crore IPO
By siliconindia
New Delhi: Due to the rise in cost of capital and raw materials, Jindal Power has delayed its plan to raise 
7,200 through Initial Public Offer (IPO), reports Economic Times.
Jindal Power led by Navin Jindal had received SEBI approval in May 2010 and had plans to part from around 11-12 per cent, which would have valued the company at over 60,000 crore.
But the current market condition nearly halved the worth of the company and investment bankers have asked the management to dilute around 20 per cent of its stake to raise the same amount. Many reasons have led to the disinterest of the foreign fund managers and even domestic institutional investors in the power sector. The present market condition has slowed down the plans of Jindal Power to contribute to the Governments of Indias goal of 'Power for All' by 2012.
7,200 through Initial Public Offer (IPO), reports Economic Times.
Jindal Power led by Navin Jindal had received SEBI approval in May 2010 and had plans to part from around 11-12 per cent, which would have valued the company at over 60,000 crore.
But the current market condition nearly halved the worth of the company and investment bankers have asked the management to dilute around 20 per cent of its stake to raise the same amount. Many reasons have led to the disinterest of the foreign fund managers and even domestic institutional investors in the power sector. The present market condition has slowed down the plans of Jindal Power to contribute to the Governments of Indias goal of 'Power for All' by 2012.