Orient Group Power Company Ltd, set up by Shriram EPC, is planning to raise around Rs 900 crore through an initial public offering (IPO).
The company has lined up investments worth Rs 4,000 crore to increase its production capacity by 1,000 Mega watt over the next 36 months, said T Shivaraman, founder and executive vice chairman of Orient Group Power.
“The equity portion of the investment will be Rs 1,200-1,300 crore, of which Rs 900 crore will be from the IPO. The remaining will be generated from internal accruals,” he told mediapersons here. With this, Shriram EPC will become the first green power company to be listed.
