Hindustan Powerprojects plans IPO in next fiscal

Bullish on growth prospects, Hindustan Powerprojects plans to come out with an initial public offer in the next financial year.
The company aims to have an installed capacity of 7,000 MW by 2020 through thermal, solar and hydro projects and currently has generation assets in many Indian states as well as in Europe, the US and the UK.
Hindustan Powerprojects Chairman Ratul Puri told PTI that the company is expected to "come up with its IPO in second or third quarter of 2016-17".
Currently, the company has solar power generation capacity of 500 MW.
Pursuing its ambitious growth plans, the company is in advanced stages of commissioning more than 5,000 MW generation capacity by 2017 at an estimated investment of Rs 32,000 crore.

Besides, it is developing over 6,100 MW capacity using conventional and non-conventional energy sources in India, Europe and the USA.

Speaking on the sidelines of the World Economic Forum (WEF) here, Puri said since the global financial community is looking for good projects the focus would be on India.
"I foresee a lot of conclusive talks towards global partnerships especially in modernising agriculture, building clean energy alliances and how to attract global players in the Indian infrastructure space," he noted.
According to him, the focus is on smart cities and renewable energy space.
"With political stability returning to the country, India must carry on with the efforts towards building foreign investor confidence.

"The global developments have placed India in an advantageous position and the Indian government must remain focused and stay true to its vision thereby capturing the opportunities," Puri said.