Ind-Bharat Power Infra Group described itself in a 2008 document as "the flagship holding company of the IND_BARATH GROUP, a collection of power and mining companies including Ind-Barath Energy (Utkal) Limited, Ind-Barath Power (Madras) Limited, Ind-Barath Thermal Power Limited, and Ind-Barath Power Gencom Limited. The company operates captive and merchant plants. In addition to coal projects, the company also has hydro, wind, and natural gas projects in operation or under implementation.[1][2][3]
Proposed coal plants
Ind-Barath Energy (Utkal) Limited
- Jharsuguda Ind-Barath power station Phase I - Orissa - 700MW
- Jharsuguda Ind-Barath power station Phase II - Orissa - 660 MW
Ind-Barath Power (Madras) Limited
- Tuticorin power station (Ind-Barath) Phase I - Tamil Nadu - 660 MW
- Tuticorin power station (Ind-Barath) Phase II - Tamil Nadu - 660 MW
Ind-Barath Power Gencom Limited
- Thoothukudi power station - Tamil Nadu - 189 MW
Ind-Barath Thermal Power Limited
- Hanakon Thermal Power Project - 450 MW (cancelled in Karnataka and reinitiated in Tamil Nadu)
- Thoothukudi power station (IBTPL Hanakon replacement) - 300 MW in Tamil Nadu
Ind-Barath Power (Konkan) Ltd (defunct)[4]
- Waral power station - Maharashtra - 450 MW - cancelled
Failure of IPO and reliance on private equity
In 2007, City Ventures and UTI Ventures invested Rs 300 crore in Ind-Barath, raising the private equity stake in the company to 35%.[1]
In 2009, private equity firms City Ventures, Sequoia Capital, and Bessermer Venture Partners invested $100 million in Ind-Barath, picking up an 18% share in the company.[1]
In 2009, Ind-Barath filed a draft prospectus to raise more than $200 million via an initial public offering (IPO).[5] The IPO attempt failed "due to volatile market conditions."[6]
In March, UK-based private equity firm 3i Group said that its India infrastructure fund was investing about $45 million for a minority share of Ind-Barath Energy (Utkal) Ltd.[5]
In August 2011 a press report stated that the Ind-Barath company was seeking to raise Rs 1,000 crore through private equity, after shelving its IPO.[6]
In December 2011, Reuters reported that Ind-Barath was in talks to raise about $150 million from TPG Capital and Apollo Global Management.[5]
Articles and resources
References
- ↑ 1.0 1.1 1.2 "City arm, Sequoia & Bessermer invest $100 m in Ind-Barath," Economic Times, October 28, 2009
- ↑ Ind Bharat Power (Karwar) Ltd, Executive Summary for Environmental Public Hearing of Proposed Thermal Power Plant of Capacity 3x150 at Village Hankon, Tq. Karwar Dist. Uttar Kannada, Karnataka", Ind Bharat Power (Karwar) Ltd. September 2008.
- ↑ "Ind-Barath Power Infra Limited," accessed February 2012
- ↑ "Ind-Barath Power Infra Limited," Draft Red Herring, June 21, 2010, p. 262
- ↑ 5.0 5.1 5.2 "Ind-Barath Power in Talks for $150M PE Funding," Reuters, December 14, 2011
- ↑ 6.0 6.1 Katya B Naidu, "Ind-Barath to raise funds through PE," Business Standard, August 10, 2011
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