Avantha Power and Infrastructure obtained an approval for ipo

Avantha Power and Infrastructure, (Avantha Group) has obtained an approval from SEBI to its IPO,It’s a power generation firm with 2,400 MW of generating capacity under Avantha Power and Infrastructure iponumerous stages of implementation,

According to draft prospectus, the firm aims to increase Rs 1,250 crore by IPO issue.( info)
objects of this ipo issue are to part of fund the development as well as construction of Chhattisgarh Power Project Phase I; Madhya Pradesh Power Project Phase I; and fund outlay for common company purposes.

Promoter group keeps 99.69per cent stake in the firm,

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