Jindal Power may launch Rs7,000-crore IPO by March

Navin Jindal-led Jindal Power Ltd is likely to launch a Rs7,000 crore initial public offer(IPO) before March 2011.

"There is a tentative planning that we would bring the IPO before March 2011," Jindal Power managing director RS Sharma said.

The company had earlier said the proceed of public offer would be utilised to part fund its around Rs22,000-crore expansion projects in Chhattisgarh and Jharkhand.

Jindal Power will channelise 35% of the power produced from the Chhattisgarh expansion project to the Chhattisgarh State Electricity Board (CSEB) and sell the rest through short, medium and long-term agreements.


Piramal announces Rs2,508-crore share buyback

Piramal Healthcare Ltd on Thursday announced the buyback of 20% of its total number of shares through a tender offer that will entail an outgo of Rs2,508.16 crore.

The company shareholders through a postal ballot had approved the buy back of 4,18,02,629 shares of the firm from the shareholders on a proportionate basis through the tender offer at price of Rs600 per share, aggregating Rs2,508.16 crore.

The buyback opens on 17 January 2011 and closes on 7 February 2011, Piramal Healthcare said in a filing to the Bombay Stock Exchange (BSE).

The last date of withdrawal is 2 February 2011 while last date of verification of shares has been fixed for 17 February 2011, it added.

"The last date of intimation regarding acceptance/non-acceptance and dispatch of consideration/ share certificates/demat instruction is 21 February 2011," the company said.

It further added that last date of extinguishment of bought back shares has been fixed for 28 February 2011.

In the postal ballot, 13.05 crore valid votes had favoured the buyback resolution, 2.74 lakh votes did not support the resolution.

On Thursday, Piramal Healthcare ended 1.63% down at Rs454.85 on the BSE, while the benchmark Sensex declined 2.31% to 19,242.36 points.



subhash kumar jain

6 years ago

what is the expected ratio of acceptance.

NTPC earmarks Rs1.5-trillion investment for power projects

Country's largest power producer NTPC Ltd has earmarked a whopping Rs1.5 trillion investment for sourcing equipment for its power projects in the next fiscal, the deliveries of which will be made over five years

"We will place orders for equipment next (financial) year... deliveries would be for five years," CMD NTPC Arup Roy Choudhary said.

"It (the order) is valued at about Rs1.5 trillion," Mr Choudhary said adding these equipment are for the 75,000MW capacity that NTPC plans to add by 2017.
The public sector company also hopes to see global companies bidding in this tender.

"We are encouraging foreign manufacturers to participate in our projects," he added.

NTPC which plans to add over 4,000MW capacity during the current fiscal recently tied up with a Japan-based Bank of Tokyo-Mitsubishi UFJ for a $300 million loan.

This is to part finance its capital expenditure plans on its ongoing and new projects.

Meanwhile, Bharat-Forge Alstom joint venture emerged as the lowest bidder for supplying turbine-generator sets to NTPC for its future projects.

The tender for sourcing boilers for the same plants is yet to open next month.
On Thursday, NTPC ended 1.73% down at Rs187.15 on the Bombay Stock Exchange, while the benchmark Sensex declined 2.31% to 19,242.36 points.    


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