India’s biggest coal importer Adani Enterprises Ltd may sell shares in a unit that produces the fuel to international investors and use the proceeds to add energy assets.

The Ahmedabad, India based company may sell up to a 20% stake in Adani Mining Ltd. in an initial public offering in London within the next two years, said Mr Gautam Adani, billionaire chairman of Adani Enterprises.

The Adani group wants to tap overseas investors keen to benefit from rising power demand in India, the world’s fastest growing major economy after China. Adani is buying coal mines to help feed the company’s USD 20 billion push to increase power generating capacity 10 fold in the South Asian nation. The company has mining rights in Australia, Indonesia and India.

An overseas listing will improve the company’s capability to raise funds for further fueling acquisitions. Adani in an interview said that “India will remain energy hungry for the next 50 years.”

Mr Alex Mathews head of research at Geojit BNP Paribas Financial Services Ltd said that “The company will need to make a lot of investments to integrate mining and logistics to produce low cost electricity in India.”

(Sourced from Bloomberg)