Indiabulls Power plans to raise about Rs 900 crore to finance upcoming projects.
It is developing thermal projects with an aggregate capacity of 5,400 MW.
The company is also evaluating amalgamation of Indiabulls Infrastructure Development with itself, a move that would enhance Indiabulls Power’s networth by around Rs 1,045 crore.
“…Equity required for implementation of Phase II projects will be met through a combination of existing equity and equity augmentation plans of the company,” it noted. The company said that these moves, approved by its board of directors today, would help in getting finance for all its “four projects in totality for equity as well as debt”.
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