Avantha Power IPO Delayed To 4th Quarter Of FY12

Despite a year of filing the DRHP (draft red herring prospectus) with the SEBI, Avantha Power IPO appears like a far fetched dream.

Sources inform which the issue may get postponed to the 4th quarter of financial year 2012 due to non-conducive market situations.

Avantha power which has an present capability of almost two hundred megawatt was intending to pick up Rs 1,250 cr via the Initial public offering to finance the 1st stages of its thermal power work of 600 megawat every in Chhatisgarh and Madhya Prasesh. Sources say the firm has finished financial tie-ups to the projects.

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