India's Adani Power plans $1 bln listing - FT

(For IPO data and performance, click <IN/IPOMENU>)

SINGAPORE, May 2 (Reuters) - India's Adani Group is planning a $1-1.5 billion initial public offering of its power unit, making it the first company to come to market since the chaotic debut of Reliance Power (RPOL.BO: Quote, Profile, Research, Stock Buzz) in February, the Financial Times reported on Friday.

Adani Power, whose investors include UK-based private equity firm 3i Group (III.L: Quote, Profile, Research, Stock Buzz), plans to file a draft IPO prospectus with the market regulator as early as Friday, the newspaper quoted people familiar with the listing as saying.

"This is by all accounts the most advanced power company in India in terms of greenfield projects," the FT quoted one person familiar with the listing as saying.

India had been one of Asia's most robust markets for new listings, culminating in the country's biggest ever flotation, January's IPO of Reliance Power, which received demand for 73 times the shares on offer.

But Reliance Power's stock fell as much as 21 percent on its trading debut in February after global markets were rocked by turmoil triggered by the U.S. subprime crisis. In the aftermath two offerings, including a $1.6 billion one from Emaar MGF Land, were pulled.

Some analysts said the Reliance Power IPO price was too high.

For a list of India's top IPOs, click [ID:nBOM113967] (Writing by Louise Heavens; Editing by Ian Geoghegan)