Jindal Power plans to raise up to Rs 10,000 crore through an initial public offer (IPO) second-biggest in the history of India. The company will approach Sebi later this month to seek permission, said chairman Navin Jindal.

‘‘We will approach Sebi with draft prospectus before end of this month for an issue, possibly by March next year,” Jindal said. JSPL is part of the $12 billion steel-to-energy conglomerate O P Jindal Group.

Jindal said while the board has approved the amount, the number of shares to be sold would be finalised later. The issue would be for a minimum of 10% equity, said he, who is also V-C and MD of holding company Jindal Steel & Power Ltd, which is a listed company.

The proposed IPO would be the second biggest IPO in India after that of Anil Ambani’s Reliance Power, which had raised Rs 11,800 crore in early 2008. As of now, ONGC’s public issue to divest government’s stake worth Rs 9,500 crore in 2004 is the second biggest.

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