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Monday, 20 July 09
ADANI POWER LAUNCHES IPO, AIMS HIGHER CAPACITY
 Economic Times reported that, Adani Power Ltd, a power project development company, promoted by Adani Enterprise went for an initial public offering of 301,652,031 equity shares of Rs. 10 each for cash at a price to be decided through a 100 per cent book building process. The issue opens on July 28.
The company has not mentioned about the price band of the issue. According to a market grape vine it should be in the range of Rs.100-120. However, a company release says, the price band and the minimum bid will be decided by the company in consultation with the global coordinator and book running lead manager.
The global coordinator and book running lead manager for the issue is DSP Merrill Lynch. Other book running lead managers are Enam Securities, IDFC –SSKI, JM Financial Consultants, Kotak Mahindra Capital, Morgan Stanley India, ICICI Securities and SBI Capital.
The issue would constitute 13.84 per cent of the post issue paid-up equity share capital of the company. The issue includes a reservation of up to 8,000,000 equity shares for eligible employee.
The company has an installed combined capacity of 6,600 MW. Currently, Adani Power is working on the following projects:
1) Mundra Phase I and II with capacity of 1,320 MW.
2) Mundra Phase III with 1,320 MW, and
3) Mundra Phase IV with 1,980 MW
4) Tiroda Power Project,
which is being developed by company’s subsidiary Adani Power Maharashtra Ltd with 1.980 MW.
Out of total 6,600 MW capacity generation, majority (70%) is to be sold through PPP models in the states like Gujarat, Maharashtra and Haryana. The rest 30 per cent is to be sold as merchant power.
In addition, the company is also planning to develop two power projects with combined installed capacity of 3,300 MW through its subsidiaries.
All those four thermal power projects are under various states of development. While some are partly operational, the entire gamut is expected to be operational by 2012-13. The parent company Adani Enterprise is engaged in green field mining in Indonesia. It supports the power company to meet its coal requirement for thermal power projects partly.
“Out of 15 million tonnes coal required for its Mundra projects, 8/9 million tonnes are to be supplied from Indonesian venture. The rest coal requirement in addition to 7 million tonnes coal required for Tiroda power project are met through domestic linkages,” said Ameet H. Desai, Director, Adani Power.
The company intends to utilize the net proceeds of the issue of the issue to part finance the construction and dvelopement of Mundra Phase IV power project for 1,980 MW and fund equity contribution in i8ts subsidiary – Adani Power Maharashtra to part finance the construction and development cost of power project for 1,980 at Tiroda.
“We intend to achieve a target of 20,000 MW capacity by 2020 using all modes of power generation including thermal, hydro, solar and wind,” said Gautam Adani, chairman, Adani Enterprise and Adani Power.
Source: Economic Times
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Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
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- TeaM Sual Corporation - Philippines
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- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
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- Planning Commission, India
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- Indika Energy - Indonesia
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- Antam Resourcindo - Indonesia
- Australian Coal Association
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- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
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- Chamber of Mines of South Africa
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- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
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- Price Waterhouse Coopers - Russia
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- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
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- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
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- Indian Energy Exchange, India
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- Simpson Spence & Young - Indonesia
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- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
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- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
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- Sarangani Energy Corporation, Philippines
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- Economic Council, Georgia
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- Wilmar Investment Holdings
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- The Treasury - Australian Government
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- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
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