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Bajaj Energy IPO

Bajaj Energy Ltd

IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
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Issue SizeIPO Doc
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DRHP PDFopen_in_new

About Company

Bajaj Energy Ltd. (BEL) and Lalitpur Power Generation Company Ltd. (LPGCL) are among the largest private-sector thermal generation companies in Uttar Pradesh. The company develops, finances and operates thermal power plants in India. BEL has 450 megawatt coal-based thermal Power plants across 5 locations in Uttar Pradesh. Bajaj Energy's total gross installed capacity is 2,430 MW. This comprises 450 mega-watts from 5 plants, owned and managed by BEL (the "BEL Power Plants"), and 1,980 MW from the power plant owned and operated by LPGCL (the "LPGCL Power Plant"). BEL intends to acquire LPGCL completely in future using the proceeds it receives from the IPO offer.
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Parent Organisation
Bajaj Energy Ltd
Founded
2008
Managing Director
Vinay Kumar Singh Bankoti

Strengths & Risks

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    One of the largest independent power producers in Uttar Pradesh.
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    Principal fuel supplier is Central Coal Fields Ltd., a subsidiary of Coal India Ltd.
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    Well-positioned in Uttar Pradesh to capitalise on the state's demand.
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    All assets are based in Uttar Pradesh. Uttar Pradesh is one of the largest and most densely populated states in India.
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    Operational power plants have a gross capacity of 2,430 MW. This according to the draft red herring prospectus published in 2019.
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    Most of the income is derived from electricity sales to one customer: Uttar Pradesh Power Corporation Ltd. (UPPCL).
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    As per DRHP, LPGCL is involved in disputes with UPPCL for tariff payment.
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    Has not been compliant with certain loan agreements in the past resulting in default
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    Faces fuel supply risks despite having entered into long-term agreements. BEL primarily relies on coal sourced from subsidiaries of Coal India.
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    Operations carry risk of environmental damage.
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    Unavailability of appropriate infrastructure could impact the delivery of coal. Heavy dependence on railway infrastructure and road infra for coal.
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    Tariffs subject to regulatory scrutiny by the Uttar Pradesh Electricity Regulatory Commission (UPERC)
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    As per DRHP, the final tariff for LPGCL has not been approved by UPERC.
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    Majority of the land are under lease agreements and inability to renew the agreement or termination of the agreement could impact revenue and operations.
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    Financial results subject to seasonal variations.
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    Operations could be affected by strikes or increased wage demands by the employees.

Financials

*All values are in Rs. Cr
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Top IPO FAQs

What is the Bajaj Energy Ltd IPO?

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The Bajaj Energy IPO's issue size is Rs 5,450 crores out of which is Rs 5,150 crores is a fresh issue and the rest is an offer for sale.

What are the open and close dates of the Bajaj Energy Ltd IPO?

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Not finalised yet

What is the lot size and minimum order quantity of the Bajaj Energy Ltd IPO?

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Not finalised yet

What are the allotment dates for the Bajaj Energy Ltd IPO?

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Not finalised yet

Who is the registrar of Bajaj Energy Ltd IPO?

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Link Intime India Pvt. Ltd.

Where is the Bajaj Energy Ltd IPO getting listed?

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The shares are proposed to be listed on the BSE and NSE.
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