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JSW Energy has filed papers with the Securities and Exchange Board of India for its proposed initial public offering of 6,32,25,000 shares of Rs 10 each. The company plans to take the book-building route for price discovery. Net issue to the public will be 10.59 per cent of the post-issue capital.
JSW Energy plans to raise over Rs 3,500 crore from the issue, to finance construction and development of identified projects aggregating to 3,410 MW in capacity and to repay debt.
The company has 3,670 MW of generating capacity in the operational, construction or implementation phase. It also has power generation projects at early stages of development with a combined installed capacity of 9,600 MW.
JSW Energy is also exploring options in the power transmission , distribution, generation business from non-conventional energy sources, and considering tie-ups with well-known equipment manufacturers and suppliers.
The company's consolidated revenue grew to Rs 811.54 crore in 2006-07 (Apr-Mar) from Rs 550.52 crore in 2003 at CAGR of 8.07 per cent. Profit after tax increased to Rs 290.4 crore in 2007 at CAGR of 68.38 per cent against Rs 21.46 crore in 2003.
JSW Energy is part of the Sajjan Jindal-led JSW group, which has presence in steel, power, cement, aluminium, software, and infrastructure sectors.
JM Financial, Kotak Mahindra Capital and ICICI Securities are book running lead managers to the issue.
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