Jindal Steel IPO likely in 6 months

Nov 15, 2010 |

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Jindal Steel and Power on Monday said its subsidiary, Jindal Power, is likely to launch a `7,000 crore IPO in the next six months. “We will come up with our IPO within next six months,” Jindal Steel and Power executive vice-chairman and MD, Mr Naveen Jindal, said on the sidelines of the India Economic Summit. When asked how much money the company plans to raise through the IPO, Mr Jindal said it will be around `7,000 crore. Commenting on the expansion plans, he said the company plans to increase steel production capacity to 10 million tonnes per annum in three years. At present, the company’s output is 3 million tonnes per annum.

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