Indiabulls Power IPO coming soon

Reportedly plans to raise Rs 1,500 crore through the public offer

Indiabulls Real Estate said on Wednesday, 15 July 2009 its wholly-owned power subsidiary Indiabulls Power has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an initial public offer (IPO).

However, No other details were announced by Indiabulls Real Estate in a filing to the Bombay Stock Exchange.

Indiabulls Power (formerly Sophia Power Company) reportedly plans to raise Rs 1500 crore through an IPO to finance its three upcoming power projects in Maharashtra and Chhattisgarh.