JSW Energy IPO opens for subscription

The Initial Public Offering (IPO) of JSW Energy Limited opened for subscription on Monday - December 7, 2009. The company has come out with an issue of equity shares ofRs 10 each fr cash at a price band of Rs.100 – Rs.115 through 100% Book Building process.

The IPO closes for subscription on Wednesday - December 9, 2009.

The Minimum Bid Size is 60 Equity shares and in multiples of 60 equity shares. The Issue Size (Crore) is Rs. 2,700 crores.

The shares of the company will be listed at Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).The Maximum Subscription Amount for Retail Investors is Rs. 100000.

CARE has assigned a 'CARE IPO Grade 4' to the IPO issue of JSW Energy Ltd. 'CARE IPO Grade 4' indicates above average fundamentals.

JSW Energy Limited (JSWEL) is a group company of Jindal South West (JSW) group headed by Mr.Sajjan Jindal. The JSW Group has a presence in the steel, power, cement, software, and infrastructure sectors. Other companies in JSW are JSW Steel Ltd, Jindal South West Mining Ltd, JSW Port, Jindal Praxair Oxygen Company Limited (JPOCL) and investment companies. JSWEL is the first Independent Power Producer (IPP) to be set up in the state of Karnataka. The company has set up 2 units of 130 MW each and both units are generating power using Corex gas and coal.

Source : Equity Bulls

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