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JSW Energy IPO fully subscribed on first day

By SiliconIndia | Monday, 07 December 2009, 23:36 Hrs

New Delhi: The initial public offering (IPO) of JSW Energy was subscribed fully within minutes of opening of the issue on Monday. The issue received bids for around 22.7 crore shares on offer, according to sources in the market.

Most of the bids came in from qualified institutional buyers who subscribed to over two times the portion reserved for them, the sources added. The IPO, through which the power producer aims to garner up to

2,700 crore, will close on December 9. The price band of issue has been fixed at

100-115 per equity share, reports PTI.

Last week, private sector power producer JSW Energy had raised

464.86 crore through the issue of shares to seven anchor investors, including Reliance Capital Trustee and Credit Suisse Singapore at a price of

110 per piece.

The energy firm has an operational capacity of 860 megawatts (MW) with additional 2,790 MW capacity under construction and implementation stage. The company has announced a discount of

5 for retail investors in the issue price that will be decided after the completion of book building process.

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