Bajaj Power owns the 100% stake in Bajaj Energy and planning to sell its stake through Bajaj Energy IPO to raise an estimated Rs 5,450 crore through an initial share-sale offer.
The company, Bajaj Energy Limited was originally incorporated as Bajaj Energy Private Limited on August 1, 1988 under the provisions of Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Dadra and Nagar Haveli, Gujrat, India. The Company was subsequently converted into a public company and consequently, the name was changed to Bajaj Energy Limited later.
Bajaj Energy IPO Review
Bajaj Power filed its Draft to SEBI in August 2019 and got a-go-go from the regulator.
According to DRHP (read here), through the Bajaj Energy IPO, a total fresh issue of Rs 5,450 crore will be on Initial Public Offering. The amount comprises of Rs 5,150 crore of fresh issue and offers for sale of scrips of Rs 300 crore by the Bajaj Power Ventures.
Bajaj Energy Limited is one of the largest private-sector thermal generation companies operating in Uttar Pradesh, India.
Bajaj Power, the parent company of Bajaj Energy is planning to utilize the funds raised by the IPO for buying the 6,99,36,900 equity shares of Lalitpur Power Generation Company from Bajaj Power Ventures and Bajaj Hindustan Sugar for a total of Rs 4,972 crore. The remaining amount will be utilized for general expenses and further expansion.
Bajaj Energy IPO Date
Bajaj Energy IPO Date is most likely to be in Apr 2020.
The Bajaj Energy Initial Public Offering Dates are as follows:
|Open Date||Apr 2020|
|Close Date||Apr 2020|
|Listing Date||Apr 2020|
Bajaj Energy Initial Public Offering Managers
The lead managers to the Bajaj Energy Initial Public Offering are Edelweiss Financial Services, IIFL Holdings and SBI Caps, while IDBI Capital Markets is the co-book running lead manager to the issue.
Bajaj Energy Initial Public Offering Promoters
The Promoters of this Bajaj Energy for the issue are Shishir Bajaj, Minakshi Bajaj, Kushagra Bajaj and Apoorva Bajaj.
Bajaj Energy Limited Initial Public Offer Details
Bajaj Energy IPO’s financial data are mentioned below along with timelines like IPO Open Date, Closing Date, IPO Allotment Date and IPO Listing Date:
|Open Date||Apr, 2020|
|Close Date||Apr, 2020|
|Face Value||₹ 10 Per Equity Share|
|Issue Size||₹ 5450 Cr.|
|Lot Size||X Shares|
|Listing At||NSE and BSE|
|Listing Date||Apr, 2020|
Bajaj Energy IPO GMP (IPO Grey Market Premium)
The Bajaj Energy IPO GMP as on Mar 2020 is Rs. X.
- Application – Rs. x/-
- Subject to Rates – Rs. x/-
- As per Grey market traders, if the IPO is not declared by the end of Mar 2020, then all SELL transactions in this IPO will be treated as Cancelled.
Bajaj Energy’s IPO is making waves from a couple of months in the market. The IPO is considered a good investment opportunity and can deliver a good return on investment on IPO listing Date.
In my opinion, one should apply for Bajaj Energy’s IPO Subscription for sure.