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JSW Energy fixes IPO at Rs100 per share

JSW Energy fixes IPO at Rs100 per share
PTI
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First Published: Tue, Dec 15 2009. 01 28 PM IST
Updated: Tue, Dec 15 2009. 01 28 PM IST
New Delhi: Private sector power producer JSW Energy Ltd has fixed the issue price of its public offer at Rs100 per share, at the lower end of its price band.
For the retail individual investors, the issue price has been fixed at Rs95 a piece, offering a discount of Rs5 per share, JSW Energy said in a public announcement on Tuesday.
Sajjan Jindal-promoted JSW Energy had hit the capital market with an initial public offer (IPO) to raise up to Rs2,700 crore, in the price band of Rs100-115 per equity share.
The issue which opened on 7 December was subscribed about 1.67 times. The offer closed on 9 December.
The equity shares offered through the IPO are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange.
The company would use the IPO proceeds for investment in special purpose vehicles and repayment of corporate debt.
The energy firm has an operational capacity of 860 MW with additional 2,790 MW capacity under construction and implementation stage.
On Monday, the Mumbai-based realty firm Godrej Properties had fixed the issue price for its IPO at Rs490 share, also at the lower end of its price band.
Godrej Properties’ IPO, which closed on 11 December, was subscribed four times.
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First Published: Tue, Dec 15 2009. 01 28 PM IST
More Topics: JSW Energy | IPO | Shares | Equity | Money Matters |