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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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Friday, 24 July 09
BIG ADARO SHAREHOLDERS CREATE HOLDING COMPANY
The nation’s second-largest coal producer, PT Adaro Energy, said on Thursday that five key shareholders had merged their holdings in the compan ...
Friday, 24 July 09
INDIA TAKES 9 MILLION TONNES S. AFRICAN COAL JAN - JUNE
Reuters reported that, India accounted for nearly 9 million tonnes of South Africa's January-June exports of around 28 million tonnes, industry sour ...
Thursday, 23 July 09
KOMIPO LAUNCHES TWO COAL TENDERS
Korea Midland Power on Wednesday launched two tenders to procure bituminous or semi-anthracite coal for August to September delivery. Bids close on J ...
Thursday, 23 July 09
GUANGDONG BUYERS SET TO IMPORT 2.3 MILLION MT FROM VIETNAM - MEDIA
Several coal-consuming companies in China’s Guangdong Province, headed by Guangdong Yudean Group (Guangdong Power Generation Group), have inke ...
Thursday, 23 July 09
KEPCO BUYS 1.5% STAKE IN ADARO ENERGY FOR US$ 56.5M
WSJ reported that, state-run utility Korea Electric Power Corp., or Kepco, Thursday said it has acquired a 1.5% stake in Indonesian coal miner, PT A ...
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- Manunggal Multi Energi - Indonesia
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- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Economic Council, Georgia
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- Sojitz Corporation - Japan
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- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
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- Indian Energy Exchange, India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
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- Latin American Coal - Colombia
- Central Electricity Authority - India
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- Vedanta Resources Plc - India
- Global Coal Blending Company Limited - Australia
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- Power Finance Corporation Ltd., India
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- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
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- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
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- Thai Mozambique Logistica
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