AP-Transco prepares to float Initial Public Offering

The Transmission Corporation of Andhra Pradesh Limited is preparing to float an Initial Public Offering as part of a major financial restructuring plan.

The move follows a Ministry of Power mandate requiring at least one state power utility to undertake an IPO under specified eligibility conditions.

The restructuring plan includes short-term strategies to reduce borrowing interest costs to 8.00% to 8.60% and long-term goals to achieve an AAA+ credit rating.