JSW Energy IPO likely in two months

[B. Karthick]

Sajjan Jindal-led JSW Energy is looking to come out with its initial
public offering (IPO) in the next two months to raise about Rs 3,000
crore for partly funding its expansion plans.

"Provided we get the necessary regulatory approval, we may come out
with an IPO in the next two months," JSW Group CFO Seshagiri Rao said
in an interview.

The company had last week filed for the Draft Red Herring Prospectus
(DRHP) with Sebi to hit the capital market. The market watchdog
normally takes 30 days to give its nod for the initial public offer
(IPO), he said, adding "subject to that JSW Energy may come out with
the offering."

The company is targeting to install a capacity of 11,000 Mw in the
next five years which would entail an investment of about Rs 55,000
crore.

Currently, JSW Energy is setting up a 3,200 Mw super critical thermal
power plant entailing an investment of Rs 15,000 crore at Ratnagiri in
Maharashtra.

The company had earlier withheld its plans to come out with an IPO
citing weak market condition amid the global financial meltdown.
With improved market conditions, Adani Power and NHPC were the first
two entities to give shape to their IPO plans. While, Adani Power got
listed today at Rs 105 on the Bombay Stock Exchange, a premium of five
per cent over its issue price, state-run NHPC is expected to get
listed soon.

B.Karthick
Research Analyst.