Jindal Power IPO : Likely in March 2011

by khalid on 10/12/2010 · 0 comments

Jindal Steel and Power Limited (JSPL) has informed the share market (BSE) that its subsidiary Jindal Power Limited (JPL) is planning to enter capital markets with its initial public issue (IPO) of Rs 7000 crore before the month of March 2011. The company will also augment its power generation capacity to 6,000 megawatts in three years from 2,000 megawatts at present. Navin Jindal-led Jindal Power Limited (JPL) is a subsidiary of Jindal Steel & Power Ltd. (JSPL) has been contributing significantly to the growing needs of power in the country.

The Equity Shares are proposed to be listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).

Issue Detail:-
Issue Open : Expected in March 2011
Issue Type : 100% Book Built Issue IPO
Issue Size : Equity Shares of Rs 10 each
Issue Size : Rs. 7000 Crores
Face Value : Rs 10 Per Equity Share
Issue Price : Rs. – Rs. Per Equity Share
Market Lot : Shares
Minimum Order Quantity : Shares
Listing At : BSE, NSE

The IPO the proceed would be utilised to part fund its around Rs 22,000-crore expansion projects in Chhattisgarh and Jharkhand. Jindal Power will channelise 35 per cent of the power produced from the Chhattisgarh expansion project to the Chhattisgarh State Electricity Board (CSEB) and sell the rest through short, medium and long-term agreements.

Stay tuned to BelltheBull Blog for more on Jindal Power IPO !

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