Bajaj Energy IPO Review, Dates, Allotment, Size, Live Bid Details, GMP & RHP
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Bajaj Energy IPO release date, IPO offer price, subscription, Bajaj Energy IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
| Face Value | Rs 10 |
| Price Band | NA |
| Listing At | BSE SME |
| Min. Order Quantity | NA |
| Listing Date | NA |
| Offer for Sale | Rs [●] Lakhs |
| Fresh Issue | Rs [●] Lakhs |
| IPO Size | Rs [●] Lakhs |
| Tick Size | Rs.1 |
Bajaj Energy IPO is listed at [●] premium. Check out the live share price by clicking on the below link.
Summary of Bajaj Energy IPO
Bajaj Energy Limited is one of the largest private sector thermal generation companies in Uttar Pradesh.
Initial Public Offering Upto [●] Equity Shares aggregating up to Rs. 54,500 million. Purchase of 69,936,900 equity shares of face value of ₹ 10 each of LPGCL (“LPGCL Shares”) from BPVPL and BHSL.
The Promoters of this company are Shishir Bajaj, Minakshi Bajaj, Kushagra Bajaj and ApoorvaBajaj. The lead manager to the issue is Edelweiss Financial Services Limited, IIFL Holdings Limited, SBI Capital Markets Limited, IDBI Capital Markets & Securities Limited and the Registrar to this issue is Link Intime India Private Limited.
Bajaj Energy IPO Date
The opening and the closing date of Bajaj Energy IPO is not known yet.
Check out Related IPO Links:
| Bajaj Energys IPO GMP |
| Allotment of Bajaj Energys IPO |
Bajaj Energy IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| 4th Day – | ||||
| 5th Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Bajaj Energy IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | |
| Refunds Initiation | |
| Credit of Shares to Demat Account | |
| Share Listing Date |
Bajaj Energy IPO Price Band / Cash Price
The face value of each share is Rs 10, but the price band of the IPO is Rs.[●]
Bajaj Energy IPO Equity Size
This Initial Public Issue of [●] Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.[●] Lakhs.
Bajaj Energy IPO Share Offering
Fresh Issue: The Fresh Issue of [●] Eq Shares by their Company, aggregating to Rs.[●] Lakhs,
Issue Size: [●] Eq Shares of Rs.10 each, aggregating to Rs.[●] Lakhs
Offer for Sale: Offer for sale consists of Up to [●] Eq Shares of face value of Rs.10 each, aggregating Rs.[●] Lakhs.
Bajaj Energy IPO – Live Performance
The listing date of this IPO is [●]. You can check the live performance of the IPO here, only after it is listed on exchanges.
Bajaj Energy IPO Grey Market Premium
The Bajaj Energy Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Bajaj Energy Limited – Company Overview
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, Gujarat, Dadra and Nagar Havelli.
Our Company was subsequently converted in to a public company and consequently name was changed to Bajaj Energy Limited.
Bajaj Energy along with LPGCL
It is one of the largest private sector thermal generation companies in Uttar Pradesh (Source: CRISIL Research). We have a track record of developing, financing and operating thermal power plants in India.
They have a total gross installed capacity of 2,430 MW, comprising 450 MW from five operational plants of 90 MW each, owned and managed by BEL (the “BEL Power Plants”) and 1,980 MW from the power plant owned and managed by LPGCL (the “LPGCL Power Plant”),
BEL and LPGCL has each entered into long-term fuel supply agreements with Central Coal Fields Limited, a subsidiary of Coal India Limited, for the supply of coal to the BEL Power Plants and the LPGCL Power Plant. Additionally, LPGCL has also entered into fuel supply agreements with other subsidiaries of Coal India Limited for the supply of coal.
BEL Power Plants
It have been fully operational since 2012 and possess an operational track record of more than six years. For the years ended March 31, 2016, 2017 and 2018.
For the nine-month period ended December 31, 2018 and the years ended March 31, 2016, 2017 and 2018, BEL on a consolidated basis generated a total income of Rs. 7,220.51 million, Rs. 14,070.99 million, Rs. 14,058.76 million and Rs. 8,976.25 million, respectively, and a profit/(loss) of Rs. 395.64 million, Rs. 1,028.35 million, Rs. 1,077.12 million and Rs. (33.95) million, respectively.
The average plant availability factor percentage (which is a measure of the frequency at which a power plant is available to generate power) of the BEL Power Plants was approximately 85.52%, 85.48% and 87.12%, respectively.
Bajaj Energy Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Bajaj Energy IPO Financial Summary
On the basis of Standalone statement:-
| Amount (in INR & million) | |||||
| 30-Dec-18 | 30-Dec-17 | 31-Mar-18 | 31-Mar-17 | 30-Mar-16 | |
| Total Assets |
6,201.77
|
35,399.47 | 34,741.55 | 36,840.97 | 35,900.48 |
| Total Revenue |
7,220.51
|
6,542.46 | 8,976.25 | 14,058.76 | 14,070.99 |
| Total Expense |
6,765.64
|
6,242.94
|
8,493.17 | 13,247.86 | 12,568.24 |
| Profit After Tax |
47.52
|
(101.16) | (20.72) | 1,050.89 | 1,026.79 |
Earnings per Equity Share (in million)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 14.66 | 14.98 | 13.42 |
From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements
- BEL’s total income for the years ended March 31, 2016, 2017 and 2018, and the nine-month periods ended December 31, 2018 and December 31, 2017 was Rs. 14,070.99 million, Rs. 14,058.76 million and Rs. 8,976.25 million, and Rs. 7,220.51 million and Rs. 6,542.46 million, respectively.
- LPGCL’s total income for the years ended March 31, 2016, 2017 and 2018, and the nine-month periods ended December 31, 2018 and 2017 was Rs. 3,127.44 million, Rs. 31,229.64 million and Rs. 53,573.24 million, and Rs. 41,318.42 million and Rs. 41,550.56 million, respectively.
- The net asset value per Equity Share was Rs. 34.26 and Rs. 34.02 as of December 30, 2018 and March 31, 2017, respectively, as per the Restated Financial Statements
- The net worth of the company as on March 31, is Rs. 4,11,75,000 million as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.
- Company’s profit after tax increased by 32.4%, to Rs. 359.40 million in the nine months ended December 31, 2018 from Rs. 271.44 million in the nine months ended December 31, 2017.
Bajaj Energy IPO – Promoters
The Promoters of this company are:
-
Shishir Bajaj,
-
Minakshi Bajaj,
-
Kushagra Bajaj
-
Apoorva Bajaj
List of Related Parties (Key Managerial Personnel)
- Govind Maheshwari – Chief Financial Officer
- Hitesh P Kanani – Compliance officer & CS
Business strategies of Bajaj Energy Limited:
-
Continued expansion of portfolio
-
Enhance productivity and operational efficiencies
-
Optimizing the value of our asset portfolio through an efficient capital structure
Bajaj Energy IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered |
Up to [●] Equity Shares aggregating up to Rs. 54,500 million
|
| Of which: | |
| Fresh Issue | Up to [●]Equity Shares aggregating up to Rs. 51,500 million |
| Offer for Sale | Up to [●] Equity Shares aggregating up to Rs. 3,000 million by the Promoter Selling Shareholder |
| QIB Portion | Upto 3,38,000 Equity Shares of face value of Rs.10/- |
| Of which | |
|
Anchor Investor Portion
|
Up to [●] Equity Shares
|
| Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor InvestorPortion is fully subscribed | [●] Equity Shares |
| Of which | |
| Available for allocation to Mutual Funds only (5%of the QIB Portion (excluding the Anchor InvestorPortion) |
[●] Equity Shares
|
|
Balance of QIB Portion for all QIBs including Mutual Fund
|
|
|
Non- Institutional Portion
|
Not more than [●] Equity Shares |
|
Retail Portion
|
Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 452,925,000 Equity Shares |
| Equity Shares outstanding after the Issue | [●] Equity Shares |
Bajaj Energy IPO Issue Object
These are the IPO Issue Objects of the company:
- Funding the Working Capital requirements of the Company:
- Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company
Bajaj Energy IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- one of the largest independent power producers in Uttar Pradesh with long-term, regulated PPAs with a take-or-pay feature;
- a secured fuel supply;
- successful track record of developing, financing and operating thermal power plants;
- well-positioned to capitalize on the growth and demand of Uttar Pradesh’s power industry;
- established management team with extensive operational experience.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-16 | 2.27 | 8.94 | 43.06 |
| 31-Mar-17 | 2.38 | 8.56 | 49.96 |
| 31-Mar-18 | (0.07) | (0.27) |
314.15 |
- Competitive Peers of Bajaj Energy Limited
Below are the top competitors:
| Sr. No. | Particulars | Face Value (in Rs.) | Basic EPS (In Rs.) | Diluted EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Bajaj Energy Limited | 10 | (0.07) | (0.07) | [●] | 17.97 | 305 |
| 2 |
Adani Power Limited
|
10 | (5.42) | (5.42) | (8.87) | – | 2.29 |
| 3 |
Tata Power Limited
|
1 | 8.74 | 8.74 | 18.91 | 8.11 | 52.36 |
| 4 |
NTPC
Limited
|
10 | 12.79 | 12.79 | 10.59 | 10.91 | 116.78 |
| 5 | JSW Limited | 10 | 0.48 | 0.48 | 152.5 | 0.78 | 66.40 |
|
Torrent Power Limited
|
10 | 19.61 | 19.61 | 13.35 | 13.37 | 148.22 |
Bajaj Energy IPO Lead Managers
| Lead Managers |
|
Edelweiss Financial Services Limited
IIFL Holdings Limited
SBI Capital Markets Limited
IDBI Capital Markets & Securities Limited
|
Bajaj Energy IPO Registrar to offer
| Registrar to the Offer |
|
Link Intime India Private Limited
C-101, 1st floor, 247 Park
Lal Bahadur Shastri Marg Vikhroli (West)
Mumbai 400 083
Te l: +91 22 4918 6000
E-mail: bajajenergy.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
|
Other Details:
- Statutory Auditor – R. S. Dani & Company, Chartered Accountants and BSR & Co. LLP
- Peer Review Auditor – R. S. Dani & Company, Chartered Accountants and BSR & Co. LLP
- Bankers to the Company – Allahabad Bank, Corporation Bank, IDBI Bank, Canara Bank, Punjab National Bank
Bajaj Energy IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Bajaj Energy IPO News
News 1 – IPO ISSUE OPENS SOON [Download Prospectus]
Bajaj Energy IPO Review FAQs
Ques – What is the Issue Size of Bajaj Energy IPO?
Answer – The Company is making an initial public offer of NA equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on fresh issue, Offer for sale, and the net issue.
Ques – What is the Price band?
Answer – The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Bajaj Energy IPO Open Date?
Answer – The opening and closing date for the IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
Ques – What is the IPO Allotment Date?
Answer – We also have the news regarding the respective allotment dates. Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA and share listing date is on NA.
Ques – What is the IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges NA. Date when the listing would be done is stagnant on NA.
Ques – Who is the Registrar of this IPO?
Answer – One of the reputed registrars are managing the issue of this IPO, i.e. NA. Their website will help you regarding the further information you are on a lookout for.
Ques – Who is the Promoter of this Company?
Answer – Here are the promoters of this company – NA. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is GMP of Bajaj Energy IPO?
Answer – We have obtained the GMP of this IPO and it is NA. The further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Bajaj Energy IPO good for Investment?
Answer – We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of this Company?
Answer – We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2020 in Lakhs is NA, 2019 is NA, 2018 is NA. PAT from Sep 2020 is NA.
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