Haldia Petrochem public issue next fiscal

Haldia Petrochemicals Ltd (HPL) would come out with the much-awaited initial public offer in the next financial year, company chairman Tarun Das said.

Talking to reporters here today, Das said that HPL was required to float the IPO as part of the corporate debt-restructuring package.

"We sought some extension for floating the IPO from the CDR cell," Das said. He said that the proceeds of the IPO would go towards expansion of the company.

Talking about the performance of HPL, he said that the company was doing remarkably well and was likely to come out with good figures in the current financial year.

He said that company was in the process of getting rated by agencies. Meanwhile, HPL had made presentations before Standard & Poor and Moodys', the two international rating agencies.