Tata Power considering a $473-million IPO for its renewable energy unit

Tata Power, controlled by Tata Group, is weighing an initial public offering for its renewable energy business that cou­ld raise about Rs 35 billion ($473 million), according to people familiar with the matter.
 
The power company has abandoned earlier plans to seek a partner to invest in its green assets via an investment trust, the people said, asking not to be identified as the information is private. Tata Power will seek approval for the IPO plan from its board, they said. If they approve, the proposed listing in Mumbai could take place as soon as this year, one of