Tata Power Mulling $473 Million Renewable Energy Unit IPO
- Listing could occur as soon as this year if board signs off
- Firm controlled by Indian conglomerate drops trust plan
An electrical substation stands outside a Tata Power Delhi Distribution Ltd. office in New Delhi.
Photographer: Prashanth Vishwanathan/BloombergThis article is for subscribers only.
Tata Power Co., controlled by India’s largest conglomerate Tata Group, is weighing an initial public offering for its renewable energy business that could raise about 35 billion rupees ($473 million), according to people familiar with the matter.
The power company has abandoned earlier plans to seek a partner to invest in its green assets via an investment trust, the people said, asking not to be identified as the information is private. Tata Power will seek approval for the IPO plan from its board, they said. If they approve, the proposed listing in Mumbai could take place as soon as this year, one of the people said.