The Silicon Review
04 September, 2019
India’s energy sector has seen uncertain times. While established companies continue to battle market fluctuations, there is enormous potential in India’s energy needs, given the vast population that continues to grow. Amidst the evolving market, Bajaj Energy has filed papers for its Initial Public Offering. It went forward with its initiative after getting approval from the Securities and Exchange Board of India (SEBI) and would be raising approximately Rs.5, 450 crores ($750 million approximately) through an initial sale of shares.
Bajaj Energy is a wholly-owned subsidiary of Bajaj Power and develops, operates and manages financing for thermal power plants which have a total capacity of 2430 MW. The network of power plants consists of five plants of 90 MW each, generating a combined total output of 450 MW. The remaining 1980 MW is generated from a power plant owned and managed by the Lalitpur Power Generation Company, which is owned by Bajaj Power Ventures.
The proceeds from Bajaj Energy’s IPO are being planned to be used for purchase of nearly 7 crores (approximately 70 million) shares of the Lalitpur Power Generation Company from its parent Bajaj Power Ventures for Rs.4,972 crore and the remaining amount would be used for general operational purposes. The financing for the IPO was carried out by IIFL Holdings, Edelweiss Financial Services, and IDBI Capital Markets.
HDFC Bank is Qfix's main distribution partner Pine Labs has announced that it has acquired Qfix, a Mumbai-based online payments startup. This acquisi...
Salesforce has announced permanent presence in Thailand by launching its new office in the country’s capital, Bangkok. The permanent presence wi...
Garment Mantra Lifestyle, a popular name in the Indian fashion retail segment, recently made an announcement that the company is expanding its retail ...
The ongoing Covid pandemic had significantly increased the number of mobile and internet users worldwide. The high amount of usage is expected to drop...