JSW Energy to be listed on January 4

By SiliconIndia   |   Tuesday, December 29, 2009   |    3 Comments
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Mumbai: JSW Energy, a group company of Jindal South West (JSW) group headed by Sajjan Jindal plans to list its equity shares issued via public issue on January 4, 2010. Due to lukewarm response from retail and non-institutional investors, the company fixed its issue price at Rs.100 per share. For retail investors, issue price is fixed at Rs.95 per share, at a discount of Rs.5 to the original issue price, reports Moneycontrol. As per data available on National Stock Exchange (NSE), the IPO of JSW Energy was subscribed 1.68 times. The company intends to utilize the issue price for partially financing construction and development of the identified projects aggregating to 2,790 MW in capacity and 400 KV transmission project and mining venture (at cost of Rs.2,142.53 crore) and repayment of corporate debt (Rs.470 crore). Other companies in JSW are JSW Steel, Jindal South West Mining, JSW Port, Jindal Praxair Oxygen Company (JPOCL) and investment companies. JSW Energy is the first Independent Power Producer (IPP) to be set up in the state of Karnataka. The company has set up two units of 130 MW each and both units are generating power using Corex gas and coal.
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