RattanIndia
 | |
| Public company | |
| Traded as |
NSE: RTNPOWER BSE: 533122 |
| Industry | Power Generation, Mining, Cement |
| Headquarters | Gurgaon, India |
Key people | Rajiv Rattan, Chairman |
| Website | www.rattanindia.com |
RattanIndia group, formerly named India Bulls Power,[1] is a US $1 billion (INR 6500 crore) net worth business conglomerate with business interests in power generation, cement and mining. RattanIndia Power Limited is developing 5400 MW of coal based thermal power projects Amravati and Nasik in Maharashtra. It has currently installed and operational capacity of 1620 MW which is expected to be 2700 MW by end of year 2015. Mr. Rajiv Rattan is the founder chairman of the group.
History
Mr. Rajiv Rattan, co-founded Indiabulls group in year 1999. As a co-founder and ex-Vice Chairman of Indiabulls group, he played an important role in scaling up various businesses and transforming it into US $3 billion (INR 19320 Cr) business conglomerate with business interests in consumer finance, Securities, Real Estate, Power Generation, securities and Information Technology. The power and infrastructure business of Indiabulls group was hived off in July 2014 and rechristened as RattanIndia Power Limited and RattanIndia Infrastructure Limited. Mr. Rajiv Rattan bought out the shares of other promoters in Power and Infrastructure businesses, while retaining his holding in Indiabulls Housing Finance and Indiabulls Real Estate.
Businesses
Power Generation
[2] RattanIndia Power[3] (formerly known as Indiabulls Power) is one of India’s largest private power generation companies. It has already incurred a capital expenditure of INR 17000 cr in developing 5,400 MW coal based Thermal Power Projects at Amravati and Nasik (2700MW at each location) in Maharashtra. The total capital expenditure on development of plant will be around INR 34000 crore. Currently phase I of Amravati power plant with total installed capacity of 1350 MW is fully operational and Phase I for Nasik power plant with generation capacity of 1350 MW is expected to complete by Dec 2015. The group has 3235 acres of land in possession for power generation. It also has a fuel supply agreement with Coal India Limited for entire 5400 MW. RattanIndia will be developing 70 km of railway line for Amravati and Nasik plant to facilitate movement of supplies. Amravati plant is already on rail map of India. On transmission side, 159 km of transmission lines are being laid down for Nasik and Amravati. A long term power purchase agreement for 25 years is in place with Maharashtra State Electricity Distribution Company Limited for Amravati Power Plant.
Renewable Energy
RattanIndia is implementing 94 MW of solar power projects. While 88 MW of solar parks are under development, 6 MW capacity solar parks are already functional since last 3 years. RattanIndia is already owning 1100 acres of land exclusively for solar and 300 acres of additional land acquisition is in pipeline. The Group is now actively engaged in bringing the benefits of cheaper and cleaner energy to the people through rooftop solar solutions under the brand name of 'Apna Solar'.
Cement
RattanIndia is developing cement grinding unit with capacity of 3.30 million tonnes per annum at additional Sinnar Industrial Area, MIDC, Nasik (Maharashtra). The flyash for manufacturing of cement will be sourced from Nasik power plant and other dedicated infrastructure like railway corridor and power supply will be in place by Dec 2015.
Mining
RattanIndia has 4134 acres of mining blocks in Haryana that will cater to markets Delhi/NCR region, Haryana and Western Uttar Pradesh.
References
- ↑ "RattanIndia commissions fourth unit in Amravathi plant". The Times of India. Retrieved 3 July 2015.
- ↑ RattanIndia Power: Latest News & Videos, Photos about RattanIndia Power | The Economic Times
- ↑ Business Standard. "Rattanindia Power Share Price: Live NSE/BSE Rattanindia Power Stock Price, Share Price, Rattanindia Power Results, Returns, Charts, News & More - Business Standard". business-standard.com. Retrieved 3 July 2015.
Further reading
- Jyoti Mukul (6 September 2014). "Rajiv Rattan takes control of Indiabulls Power". business-standard.com. Retrieved 3 July 2015.
- Raghavendra Kamath (10 July 2014). "Indiabulls promoters split empire". business-standard.com. Retrieved 3 July 2015.
- Katya Naidu (11 March 2013). "Indiabulls starts power generation; calls it a landmark". business-standard.com. Retrieved 3 July 2015.
- Katya B Naidu (31 January 2013). "Five years on, Indiabulls Power's Chhattisgarh project in peril". business-standard.com. Retrieved 3 July 2015.
- N Sundaresha Subramanian (1 May 2015). "HC restrains The Wall Street Journal on Indiabulls". business-standard.com. Retrieved 3 July 2015.
- "Third unit of RattanIndia plant tested for commercial ops". The Times of India. Retrieved 3 July 2015.
- "Indiabulls Power promoter Rajiv Rattan denies speculations about looking to exit power business". timesofindia-economictimes. Retrieved 3 July 2015.
- "Train to RattanIndia plant soon". The Times of India. Retrieved 3 July 2015.
- "RattanIndia Power commissions 270 MW unit 4 at Amravati". timesofindia-economictimes. Retrieved 3 July 2015.
- SI Reporter (8 August 2012). "Indiabulls Group shares dip on Veritas report". business-standard.com. Retrieved 3 July 2015.
- "Stock Share Price rattanindia power limited". bseindia.com. Retrieved 3 July 2015.
- "RattanIndia Power Stock Price". ndtv.com. Retrieved 3 July 2015.
- "ApnaSolar - Aim for the Sun". ApnaSolar - Aim for the Sun. Retrieved 3 July 2015.