India Development News & Foreign Investment Opportunities

Bajaj Energy files for Rs.4,450cr IPO

Plans to acquire 1,980-MW capacity

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Plans to acquire 1,980-MW capacity

 

Bajaj Energy.
Bajaj Energy.

Mumbai-based Bajaj Energy plans to raise Rs.4,450 crore through an initial public offer to acquire 6.99 million equity shares of Lalitpur Power from Bajaj Power Ventures and Bajaj Hindustan Sugar.

The deal will cost Rs.4,972 crore, the company said in a statement on 9 Apr 2019.

Bajaj Energy has already filed for IPO with Securities and Exchange Board of India.

Bajaj Energy, a 100% owned subsidiary of Bajaj Power, develops, finance and operates thermal power plants. It owns 2,430-MW installed capacity, 450-MW of which is operational.

The rest 1,980-MW is owned by special purpose vehicle Lalitpur Power acquisition will come under Bajaj Energy. fiinews.com

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