Suryachakra Power files prospectus for IPO
Hyderabad: Suryachakra Power Corporation (SPCL) has filed a draft red herring prospectus with the securities and exchange board of India (Sebi) on June 1 for issue of 34 crore equity shares of Rs10 each through the book-building route.

The net issue to the public would constitute 43.85% of the fully-diluted post-issue paid-up capital of the company.

SPCL, established in 1995, is the first independent power producer in India to build and operate a power plant at the Andaman and Nicobar Islands. The company operates a 20-MW diesel-based power plant at Bamboo Flat in Port Blair and supplies electricity to the union territory.
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