Bajaj Energy obtains approval from Sebi for an IPR of 5,450 rupees
New Delhi, September 3 () Bajaj Energy was approved by the capital market regulator Sebi to raise an estimated Rs.4,450 million through an initial offer to sell shares.
The company, which submitted its IPO documents with Sebi in April, obtained the regulator's comments on August 30, as shown by the latest update available with the capital markets regulator.
Sebi observation is necessary for any company that plans to launch public problems.
According to preliminary documents, the initial public offering (IPO) of Bajaj Energy includes a new issuance of shares totaling Rs 5.150 crore and an offer to sell bonds up to Rs 300 crore for Bajaj Power Ventures.
The company plans to use the OPV's revenues to buy 6,99,36,900 shares of Lalitpur Power Generation Company's capital of Bajaj Power Ventures and Bajaj Hindustan Sugar for Rs 4,972 million rupees, and the remaining amount will be used for general expenses.
Bajaj Power owns a 100 percent stake in Bajaj Energy, which is dedicated to the development, financing and operation of thermal power plants with a gross installed capacity of 2,430 MW.
The 2,430 MW capacity comprises 450 MW of five operating plants of 90 MW each, owned and managed by Bajaj Energy, and 1,980 MW of the power plant owned and managed by a Lalitpur Power special purpose vehicle.
Bajaj Energy intends to acquire 1,980 MW of Lalitpur Power from the revenue from the offer, he said. Edelweiss Financial Services, IIFL Holdings and SBI Caps are the main managers of the problem, while IDBI Capital Markets is the co-book that manages the main managers of the problem. SP RVK