Comments on: Indiabulls arm gets power project in Chhattisgarh http://indiainvestmentproperty.com/real-estate-news/indiabulls-arm-gets-power-project-in-chhattisgarh/ Real Estate Investment in India Thu, 08 Jan 2009 13:32:06 +0000 http://wordpress.org/?v=2.6 By: Vikas http://indiainvestmentproperty.com/real-estate-news/indiabulls-arm-gets-power-project-in-chhattisgarh/#comment-36 Vikas Thu, 20 Mar 2008 08:29:01 +0000 http://indiainvestmentproperty.com/real-estate-news/indiabulls-arm-gets-power-project-in-chhattisgarh/#comment-36 Indiabulls Power sold 28.6% stake to LN Mittal, Farallon for Rs 1,580 crore. LN Mittal's stock stands at 10.7%, valued at Rs 592 crore, reports CNBC-TV18. Indiabulls Real Estate's 100% arm Sophia Power is raising Rs 1,580 crore via 37.5% stake sale to LN Mittal and Farallon Capital at the rate of Rs 66.67 per share. Indiabulls Power sold 28.6% stake to LN Mittal, Farallon for Rs 1,580 crore. LN Mittal’s stock stands at 10.7%, valued at Rs 592 crore, reports CNBC-TV18.

Indiabulls Real Estate’s 100% arm Sophia Power is raising Rs 1,580 crore via 37.5% stake sale to LN Mittal and Farallon Capital at the rate of Rs 66.67 per share.

]]> By: amit http://indiainvestmentproperty.com/real-estate-news/indiabulls-arm-gets-power-project-in-chhattisgarh/#comment-32 amit Wed, 19 Mar 2008 11:05:42 +0000 http://indiainvestmentproperty.com/real-estate-news/indiabulls-arm-gets-power-project-in-chhattisgarh/#comment-32 Indiabulls Power Services, a wholly-owned subsidiary of Indiabulls Real Estate, today said it has bagged a contract to develop a 1,600-MW coal-based power project in Chhattisgarh, outbidding close contenders GMR Group and Sterlite Industries. The company placed the lowest bid of 81 paise per kWh for the project. GMR and Sterlite were the two other close contenders for the projects as they put in bids of 88 paise per unit and 89 paise per unit. Others in fray included Reliance Power and Tata Power, Indiabulls Power's spokesperson Gagan Banga told PTI over phone. Of the total power to be generated from the project, 65 per cent would be supplied to the host state at a tariff of 81 paise per unit. The company is free to sell the balance 35 per cent to private consumers and industries. The pit-head project, to be set up on built-operate-own- transfer basis by the company, was scheduled for completion in three years, Banga said. Coal for firing the project would come from an attached 350-million-tonne coal mine, he added. Indiabulls Power Services, a wholly-owned subsidiary of Indiabulls Real Estate, today said it has bagged a contract to develop a 1,600-MW coal-based power project in Chhattisgarh, outbidding close contenders GMR Group and Sterlite Industries.

The company placed the lowest bid of 81 paise per kWh for the project. GMR and Sterlite were the two other close contenders for the projects as they put in bids of 88 paise per unit and 89 paise per unit. Others in fray included Reliance Power and Tata Power, Indiabulls Power’s spokesperson Gagan Banga told PTI over phone.

Of the total power to be generated from the project, 65 per cent would be supplied to the host state at a tariff of 81 paise per unit. The company is free to sell the balance 35 per cent to private consumers and industries.

The pit-head project, to be set up on built-operate-own- transfer basis by the company, was scheduled for completion in three years, Banga said.

Coal for firing the project would come from an attached 350-million-tonne coal mine, he added.

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