Navin Jindal-led Jindal Power is likely to launch a Rs 70 billion initial public offer (IPO) before March 2011, reports PTI.``There is a tentative planning that we would bring the IPO before March 2011,`` Jindal Power Managing Director RS Sharma said.When asked about draft herring prospectus and other plans, he said, ``They are being worked out and are in discussion.
Other than that we can not comment right now.``The company had earlier said the proceed of public offer would be utilised to part fund it`s around Rs 220 billion expansion projects in Chhattisgarh and Jharkhand.Jindal Power will channelise 35% of the power produced from the Chhattisgarh expansion project to the Chhattisgarh State Electricity Board (CSEB) and sell the rest through short, medium and long-term agreements.
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