Adani Power IPO Prospectus filed with SEBI

Adani Power Ltd, an Adani Enterprises company, filed a draft prospectus with SEBI to raise 5600+ crores through an IPO. This money will be utilized to funds its thermal power projects in Gujarat, Maharashtra and Rajasthan. This IPO will dilute the controlling stake of Adani enterprises to 74 percent. A proposal to issue 29.69 crore shares of Rs 10 each was made in the Draft Red Herring Prospectus ( DHRP ).