JSW Energy to come out with IPO, files prospectus with SEBI
JSW Energy is set to come out with an initial public offering (IPO) and has filed the draft red herring prospectus with regulator Securities Exchange Board of India (SEBI), Seshagiri Rao, Joint Managing Director and Group CFO of JSW Steel, told CNBC-TV18 in an interview.
JSW Energy is promoted by Sajjan Jindal Group. JSW Steel currently holds 5.7% stake in JSW Energy. Sun Investments has 19.82% pre-IPO stake in JSW Energy, JSW Holdings is the sole promoter of Sun Investments. JSW Investments has 39.24% stake In JSW Energy.
The company would raise Rs 3,000 crore via the IPO. A look at the financials: its FY09 profit after tax (PAT) was at Rs 277 crore while FY09 revenue was at Rs 1,852 crore.
The company owns and operates a power plant in Karnataka with a capacity of 560 mega watts (MW). It expects to commission further 705 MW capacity and will expand capacity by another 2,385 MW.
souce: moneycontrol
Tags: DRHP, jsw energy, jsw energy ipo, jsw ipo, jsw steel, sebi
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