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JSW Energy Ltd to enter capital market

JSW Energy Ltd, an energy company and part of the Sajjan Jindal-led JSW Group, has filed its Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”) to enter the capital market with an Initial Public Offering (“IPO”) of equity shares of Rs. 10 each (“Equity Shares”) for cash at a price (including a share premium) aggregating up to Rs. 30,000 million (the “Issue”).
The Issue, which is to be decided through a 100% Book-Building Process, comprises a Net Issue of Equity Shares to the Public and a reservation of Equity Shares for eligible employees (“Employee Reservation Portion”). The Equity Shares are proposed to be listed on National Stock Exchange of India Limited (“NSE”) and Bombay Stock Exchange Limited (“BSE”).
Atleast 60% of the Net Issue will be allocated on a proportionate basis to Qualified Institutional Buyers (“QIBs”) out of which 5% will be available for allocation on a proportionate basis only to Mutual Funds. The remainder will be available for allocation on a proportionate basis to all QIBs, including Mutual Funds. The Company may consider participation by Anchor Investors in the QIB portion in accordance with applicable SEBI Guidelines. Further, not less than 10% of the Net Issue will be available for allocation to Non-Institutional Bidders on a proportionate basis and not less than 30% of the Net Issue will be available for allocation to Retail Individual Bidders on a proportionate basis.
The Book Running Lead Managers (“BRLMs”) to the Issue are JM Financial Consultants Pvt Ltd, Kotak Mahindra Capital Company Ltd, ICICI Securities Ltd, IDFC-SSKI Ltd, JP Morgan India Pvt Ltd, SBI Capital Markets Ltd, Morgan Stanley India Company Pvt Ltd and IDBI Capital Market Services Ltd.

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