Avantha Power & Infrastructure part of the billionaire Gautam Thapar led Avantha Group plans to raise INR 1250 crore through an initial public offering of shares.

Avantha in a statement said that the company has filed initial papers for the offering with the market regulator.

With 191 MW of operational thermal power capacity, Avantha has 2400 MW of generating capacity under various stages of implementation and 1320 MW of generating capacity under planning spread across India.

Enam Securities, Kotak Mahindra Capital, Citigroup and Axis Bank are arrangers for the issue.

(Sourced from Reuters)