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Popular Articles

Govt approaches Ratan Tata to head AI advisory board
The government is understood to have approached industrialist Ratan Tata to head an advisory board of the ailing Air India.

DoT asks 3G auctioneer to furnish details on ties with Malaysia unit
The Department of Telecommunications (DoT) has asked NM Rothschild (India), the e-auctioneer appointed by DoT to conduct 3G and WiMAX auctions, to furnish details about its relationship with Rothschild (Malaysia), including whether both have a common holding company/parent.

News of the day

Embarrassing code
That the new direct taxes code is proving embarrassing for the government is obvious, it’s just that one didn’t realise the government felt the same way as well. At one point the code says, “A business shall be distinct and separate from another business if there is no interlacing, inter-dependence or unity ‘embarrassing’ the two businesses.” Now that’s embarrassing.
Public Relations

JSW Energy IPO to open on Dec 7, with 60% to QIBs

JSW Energy will open its Initial Public Offer (IPO) on December 7, to raise Rs 2,700 crore. The issue will close on December 10. - ESPN STAR threatens to switch off signals to Hathway - Ashoka Buildcon bags Rs 580cr L&T order - Vascon IPO likely to hit captial mkt by early 2010 - PNC Intratech to raise Rs 175 cr via IPO - Citi overtakes Morgan Stanley to top in domestic fund raising - Latha Jishnu: The WIPO knife edge">Latha Jishnu: The WIPO knife edge The issue will be the first IPO from the JSW Group in the past 15 years, said Sajjan Jindal, vice chairman and managing director. The company will announce the price band three days prior to the IPO’s opening. At least 60 per cent of the issue will be allocated to qualified istitutional buyers (QIB)s, of which five per cent shall be available on a proportionate basis to mutual funds. “The price band will be decided considering the investors’ sentiments,” said Jindal at a press conference today. JSW Energy has 860 Mw of operational generating capacity and 2,790 Mw of generating capacity in the construction or implementation stage. In addition, it has power generation projects at an early stage under development, with a proposed combined installed capacity of 7,740 Mw. In the recent IPOs, power sector companies like Adani Power had raised Rs 3,020 crore and Indiabulls Power raised Rs 1,700 crore. India is facing a shortage of about 25,000 Mw power during peak time. Plans are to add close to 78,000 Mw of power during the current five-year plan.


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