JSW Energy Collects Rs. 465 crore from AIs – AIs (Anchor Investors) allot in the public issue of JSW Energy, a division of Sajjan Jindal – headed JSW Group has been signed by 7 AIs (Anchor Investors) at Rs. 110 per equity share on December 4. The company has collected Rs. 464.87 crore by apportioning 4, 22, 60,820 equity shares to these investors.
The company has apportioned 40.17 lakh shares to Valiant Mauritius, 1.74 crore shares to Eton Park International LLP, 43.47 lakh shares to Credit Suisse Singapore, 66.95 lakh shares to Deutsche Securities Mauritius, 39.99 lakh shares to Highfields Capital Management, 30.43 lakh shares to Reliance Capital Trustee and 26.78 lakh shares to Valiant Mauritius Partners Offshore.
The public issue of regarding Rs. 2,700 crore will gets open for subscription on 7 December and close on 9 December, 2009. Its IPO (initial public offer) price band had been fixed at Rs. 100-115 per equity share.
A discount offer of Rs. 5 to the issue price influenced pursuant to wind up of book building procedure will be proffered to retail individual bidders. It has been destined to utilize the issue proceeds for partially financing construction and development of distinguished projects conglomerating to 2,790 MW in capacity and 400 KV transmission project and mining embark at cost of Rs. 2,142.53 crore and repayment of corporate debt at cost of Rs. 470 crore.
The company has registered profit after tax of Rs. 578.09 crore on total income of Rs. 1,593.98 crore for the year ended on March 31, 2009. For the other half year ended on September 2009, it has filed profit after tax of Rs. 294.62 crore on total income of Rs. 926.28 crore.
Established in year 1994, JSW Energy is a sub part of JSW Group, headed by Mr. Sajjan Jindal, which is in turn, is a part of O.P. Jindal Group. JSW Energy Limited is a reckoned and established company having 860 MW of operational generating capacity, 2,790 MW of generating capacity in the construction of implementation phase, out of which 135 MW has been commissioned.
The book running lead managers to the Issue are JM Financial Consultants Private Limited, Kodak Mahindra Capital Company Limited, ICICI Securities Limited, IDFC-SSKI Limited, J P Morgan India Private Limited, SBI Capital Markets Limited, Morgan Stanley India Company Private Limited and IDBI Capital Market Serviced Limited.
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