JSW Energy, the group company of Jindal South West headed by Sajjan Jindal, will launch its initial public offer within two months to raise Rs 3,000 crore (Rs 30 billion) to fund 3,000 Mw of power projects under construction. It aims to become a major power producer with about 11,400 Mw of generation by 2015, besides venturing into power transmission and distribution business and investments in renewables like solar energy.
Sajjan Jindal's JSW Energy moved a step closer to securing its coal requirements, signing a definitive agreement with the management of CIC Energy on Wednesday, to buy them out and take control of the Toronto-listed company. CIC Energy has an 'A-grade' mining-cum-power complex called the Mmamabula Energy Complex in Botswana, Africa. The field there is estimated to have 2.6 billion tonnes of high-thermal coal, mostly above 6,000 Kcal/kg of calorific value.
'We will have a well-designed product, and not a compromise.' 'We will make a completely contemporary vehicle, in keeping with consumers' aspirations, not like the Nano, which disappointed them,' Sajjan Jindal tells Shreekant Sambrani.
Some of India's largest conglomerates are gearing up to either commission or commercially start the first phase of their new energy projects this year, according to company executives and analysts.
Lines up investments in steel, power sectors to profit from booming demand.
You have to grow, and grow fast - that's the DNA of the JSW group, chairman Sajjan Jindal said as JSW Cement made its debut on the stock market mid-August. The remark captured not just the moment but also the momentum of JSW's growth story.
May opt for PE funds or debt to finance capital expenditure.
Alongside the power plant, Chief Minister Banerjee also laid the foundation stone for JSW Industrial Park, which will be spread over 2,000 acres with plug-and-play infrastructure.
JSW Energy aims to generate 11,390 Mw in the country by 2015. The company has tied up with two consortiums of lenders, led by IDBI Bank and State Bank of India, respectively, for the loans. It had recently filed a draft red-herring prospectus for a Rs 3,000 crore (Rs 30 billion) public offering with market regulator Securities and Exchange Board of India.
The first luxury car will be launched in the first quarter of 2025 and the company is planning to open 12 'MG Select' showrooms in the next six months.
Mukesh Ambani has got company of at least 29 fellow corporate executives, including four from his own group Reliance Industries, in terms of annual salaries running into crores of rupees for the latest fiscal.
While the deal would help reduce debt at Jindal Steel, it would also be a boon for State Bank of India, which has been trying to broker an agreement between the companies
'Two would be premium products and three would be mainstream products.'
JSW will pay at least Rs 4,000 crore Rs 40 billlion.
'Improved law and order and transparent governance have helped change UP's investment image.'
The JSW Group has expressed interest to develop a 900 MW pumped storage hydel power project and a state of the art rolling shop for steel in West Bengal, company chairman Sajjan Jindal said on Wednesday. He announced the projects while addressing the inaugural session of the Bengal Global Business Summit, organised by the state government, in Kolkata. "We are keenly pursuing a 900 MW hydro pumped storage project. "This will bring clean energy to the state and we hope to receive this prestigious project through a nomination from the state government," Jindal said.
In 2014, the Supreme Court of India revoked the allocation of more than 200 coal blocks which were sold by the government
Companies are already diversifying sourcing, raising prices, and reworking operating models as the disruption drags on.
'This is the Bengal story, where businesses are nurtured, dreams are realised, and legacies are built.'
The promoter entities of JSW Group are in talks with several electric-car manufacturers in China to launch an electric car for the Indian market at Rs 15-20 lakh, a source close to the development said.
Jindal Steel and Power and JSW Steel, are in competing talks to buy parts of insolvent Italian steelmaker Lucchini.
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
During the first eight months of CY24, 50 IPOs mobilised Rs 53,453 crore.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
'Interim Budget has ignited the entrepreneurial spirit.'
Delaying action on climate change will hurt growth: Global CEOs.
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
Once Bhushan Steel is into its fold, Tata Steel will increase its capacity from 12.7 million tonnes per annum (mtpa) to 18.3 mtpa
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
Analysts said the higher capex by PSUs, along with government spending, could trigger a capex revival for the corporate sector by the second half of FY17
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
Few top honchos of India Inc did very well in 2014.
Acquisition of stressed infrastructure assets has pushed its debt to over Rs 1 lakh crore, highlighting concerns about its growth strategy.
India's $121 billion troubled debt pile, over $100 billion of which is on the books of state-owned banks, has come under close scrutiny from prosecutors, the media and politicians
Friendlier government policies, greater demand and better supply of coal have fuelled investor interest.
