Navin Jindal-led Jindal Power Ltd is likely to launch a Rs7,000 crore initial public offer(IPO) before March 2011.
"There is a tentative planning that we would bring the IPO before March 2011," Jindal Power managing director RS Sharma said.
The company had earlier said the proceed of public offer would be utilised to part fund its around Rs22,000-crore expansion projects in Chhattisgarh and Jharkhand.
Jindal Power will channelise 35% of the power produced from the Chhattisgarh expansion project to the Chhattisgarh State Electricity Board (CSEB) and sell the rest through short, medium and long-term agreements.
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