JSW Energy receives SEBI nod for IPO

JSW Energy receives SEBI nod for IPO; JSW Energy IPO likely in last week of Nov, early Dec; looking to raise a min of Rs 2600 Cr from issue: Sources

JSW Energy receives SEBI nod for IPO. The IPO is likely to come in the last week of November or early December, reports CNBC-TV18 quoting sources. JSW Holdings is the parent company of JSW Energy.

The company is looking to raise a minimum of Rs 2600 crore from the issue. The proceeds will be used for repayment of debt and equity financing
of power projects. The company is planning 6 power projects aggregating to 2790 MW.

The company has been in power generation from 2000. Its has 560 MW project in Karnataka operational and 3090 MW is under construction. The company has defintive offtake for 1986 MW. Over and above that, the company has 4 projects in hand of 7740 MW, which will be completed between August 2014-2015.

Sajjan Jindal holds 5.46%, JSW Investments holds 39.24%, Sun Investments holds 19.82% in JSW Energy. Total promter holding is of 64.52%. Promoter group holding is 27.56%, out of which, JSW Steel holds 5.71%.

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