Bajaj Energy Limited

IPO Size

`5,450 Cr

Price Band


Minimum Lot Size


Face Value

`10 Per Share

Employee Discount


Retail Allocation


Issue Open Date


Issue Close Date


Listing Date


About the Company:

Bajaj Energy along with LPGCL is one of the largest private-sector thermal generation companies in Uttar Pradesh. The company has a track record of developing, financing, and operating thermal power plants in India. The power company has 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"), which Bajaj Energy intends to wholly acquire from the proceeds of the Offer (the "LPGCL Acquisition").


BEL and LPGCL have 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.

Outstanding Litigation:

S.No.  Company  Directors  Promoters
Entity Name By the Company Against the Company By the Director Against the Director By the Promoter Against the Promoter
Criminal cases 1 - - - - 7
Material civil cases 1 5 - - - -
Taxation matters - - - - - 2
Regulatory Proceedings - - - - - -

Financial Statements:

Income Statement(in Milllions) Dec'2018 FY18 FY17 FY16
Gross Operating Income 7,220.51 8,976.25 14,058.76 14,070.99
Cost of Employee & Inventory 355.66 381.48 472.41 443.82
Other Expenses 3,849.10 4,562.36 9,076.68 8,134.76
EBITDA 3,371.41 4,413.89 4,982.08 5,936.23
Depreciation 1,127.66 1,498.94 1,507.94 1,512.39
Finance Cost 1,788.88 2,431.87 2,663.24 2,921.09
Profit Before Tax 454.87 483.08 810.90 1,502.75
 Tax 95.47 66.26 -71.60 474.40
Profit After Tax 395.64 -33.95 1,077.12 1,028.35

Promoter of the Company

Bajaj Power Ventures Private Limited

Peer Comparison

• Adani Power limited • Tata Power Limited • NTPC Limited • JSW Energy Limited • Torrent Power Limited

Objectives of the Issue

Offer for Sale

The proceeds from the sale of shares under the offer for sale worth Rs300 cr will not be received by the company.

Fresh Issue

Net proceeds from the sale of fresh shares worth Rs5,150Cr will be utilized for the following objectives • Purchase of 69,936,900 equity shares of the face value of ₹ 10 each of LPGCL (“LPGCL Shares”) from BPVPL and BHSL • General corporate purposes.

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