Jindal Power Limited files DRHP with SEBI
New Delhi, December 29, 2009: Jindal Power Limited (JPL) proposes a public issue of equity shares through the 100% book building process in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 and has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). Pursuant to this, JPL proposes to raise INR 7,200 Crore (the “Issue”).
Jindal Power Limited is a subsidiary of Jindal Steel & Power Limited (JSPL). JSPL is engaged in the manufacture of steel and captive power generation and is listed on the Bombay Stock Exchange Limited (BSE) and the National Stock Exchange of India Limited (NSE).
The Company intends to utilize the Net Proceeds of the Issue to part finance the construction and development of various thermal power projects and partly for the general corporate purpose.
The Equity Shares of the Company are proposed to be listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited.
JM Financial Consultants Private Limited, Enam Securities Private Limited, Deutsche Equities India Private Limited, Goldman Sachs (India) Securities Private Limited, ICICI Securities Limited, UBS Securities India Private Limited and SBI Capital Markets Limited are acting as the Book Running Lead Managers (BRLMs) to the issue. Motilal Oswal Investment Advisors Private Limited is acting as Co-Book Running Lead Manager (CBRLM).
Disclaimer:
The Company is proposing, subject to market conditions and other considerations, a public offer of its equity shares and has filed a Draft Red Herring Prospectus with the SEBI. The Draft Red Herring Prospectus is available on the website of SEBI and the respective websites of the BRLMs and Co-BRLM.
Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled “Risk Factors” of the Draft Red Herring Prospectus.
This press release is not an offer for sale within the United States of any equity shares or any other security of Jindal Power Limited. Securities of Jindal Power Limited, including any equity shares, may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Jindal Power Limited does not intend to register any portion of the offering in the United States or to conduct a public offering of equity shares or any other securities in the United States.
This press release contains "forward-looking statements" relating to the completion of the IPO. These forward-looking statements are subject to a variety of factors, including market conditions and other risks typically associated with securities offerings. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required under applicable securities laws, Jindal Power Limited does not undertake to update these forward-looking statements.
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