Indian power producers may accelerate plans to sell shares after Adani Power Ltd. raised funds in the world’s biggest offering by an energy company this year, said Girish Solanki, an analyst at Angel Br
oking Ltd. Indian billionaire Gautam Adani’s power producer raised 30.2 billion rupees ($630 million) in a sale that ended July 31, the Ahmedabad-based company said yesterday. Adani got $11.5 billion in bids from investors as Indian equities rebounded from a 2008 slump to head for their best year in six.Power companies including Indiabulls Power Ltd. will raise as much as 100 billion rupees from equity sales in the next three months, Solanki estimates, as investors bet that energy demand will continue to climb in a nation with peak power deficits as high as 12.6 percent. NHPC Ltd., India’s biggest hydroelectric power generator, plans to raise 60 billion rupees in an offer that opens Aug. 7. “No one wants to miss the bus this time,” Solanki, an analyst based in Mumbai, said by telephone on July 31. “Within a month or two, you will see all the others who are planning; they are filing in a hurry now.”
oking Ltd. Indian billionaire Gautam Adani’s power producer raised 30.2 billion rupees ($630 million) in a sale that ended July 31, the Ahmedabad-based company said yesterday. Adani got $11.5 billion in bids from investors as Indian equities rebounded from a 2008 slump to head for their best year in six.Power companies including Indiabulls Power Ltd. will raise as much as 100 billion rupees from equity sales in the next three months, Solanki estimates, as investors bet that energy demand will continue to climb in a nation with peak power deficits as high as 12.6 percent. NHPC Ltd., India’s biggest hydroelectric power generator, plans to raise 60 billion rupees in an offer that opens Aug. 7. “No one wants to miss the bus this time,” Solanki, an analyst based in Mumbai, said by telephone on July 31. “Within a month or two, you will see all the others who are planning; they are filing in a hurry now.”For Further Details Visit At:www.bloomberg.com/apps/news?pid=20601091&sid=a2JfmoR23OJ0
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