An Indian infrastructure finance company will launch its IPO this year, according to a statement by the company.
The IPO will be in the fourth quarter of 2019, it said.
The company has a total of around Rs 6,400 crore in debt, it added.
The new company will be a subsidiary of a private company and will not have a separate listing on the Nasdaq or the BSE.
The IPO will raise an initial public offering (IPO) price of about $6,500 per share, it continued.
The company’s chairman and CEO, Prasad Jain, told NDTV that the company was formed to help the country move away from dependence on foreign suppliers for infrastructure and towards local investment.
India’s infrastructure investment has slumped to its lowest level since the 2008 financial crisis.
The country’s total infrastructure investment in the third quarter of this year was just $5.5 billion, according the World Bank.