JSW Energy fixed its proposed IPO Price band at Rs. 100-115/equity-share – One of the biggest power producers, JSW Energy fixed its proposed IPO (Initial Public Offering) price band in the range of Rs. 100-115 per equity share. Today, in a public announcement JSW Energy stated that, “The company headed by Sajjan Jindal will be proffering a discount of Rs. 5 to retail investors in the issue price that will be influenced after the completion of book building process.
A part of JSW Group, JSW Energy is enrolling the capital market with its initial public offer i.e. IPO from December 7 till December 9. Through this public offer, the company has been expecting to raise funds up to Rs. 2,700 crores.
The issue has been graded by CARE as CARE IPO Grade 4 indicates above average fundamentals. At the least, 60% of the issue will be allocated on a proportionate basis to QIBs (Qualified Institutional Buyers) out of which 5% excluding Anchor Investor Portion shall be available for allocation on a proportionate basis to Mutual Funds only. Including Mutual funds, the remainder shall be available for allocation on a proportionate basis to all QIBs, subjected to valid Bids being obtained from them at or above the issue price.
Integrated in year 1994, JSW Energy Ltd. Is an established and reckoned energy company, having 135 MW of accredited capacity. In addition, its power generation projects at an early stage are under development with a proposed combined installed capacity of 7,740 MW. It is one of the early entrants in the power trading business. Along with this, the firm’s objective is to become a leading full service integrated power company in the Indian power sector with presence all across the value chain.
The energy firm has an additional capacity of 2,790 MW and operational capacity of 860 MW under its implementation and construction stage. JM Financial Consultants, Kotak Mahindra Capital Company, ICICI Securities, IDFC-SSKI Ltd, JP Morgan India, SBI Capital, Morgan Stanley India and IDBI Capital are book running lead manager of the public offer.
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