GVK Power & Infrastructure IPO
GVK Power & Infrastructure IPO — date, price band, lot size & details 2006
GVK Power & Infrastructure listed on 27 Feb 2006 at ₹376, 21.3% above the ₹310 issue price.
GVK Power and Infrastructure is the GVK group's power holding company, with a 53.96% stake in the company running the Jegurupadu power plants in Andhra Pradesh. Its total income was Rs 7.45 crore in FY2005.
Stock price
GVK Power & Infrastructure is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 02 Feb 2006
- Close 07 Feb 2006
- Allotment TBA
- Refund/credit TBA
- Listing 27 Feb 2006
Issue summary
The terms of the offer, as filed.
| IPO Dates | 2 to 7 Feb, 2006 |
|---|---|
| Price Band | ₹260 – ₹310 |
| Face Value | ₹10 |
| Lot Size | 20 Shares |
| Issue Size | ₹256.54 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 6,200 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 20 shares at the ₹310 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 20 | ₹6,200 |
| Retail (max) | 32 | 640 | ₹1,98,400 |
| S-HNI (min) | 33 | 660 | ₹2,04,600 |
| S-HNI (max) | 161 | 3,220 | ₹9,98,200 |
| B-HNI (min) | 162 | 3,240 | ₹10,04,400 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It held 53.96% of GIL, which ran a 216 MW plant and was adding 220 MW.
- 02Net worth rose from Rs 5.34 crore in FY2005 to Rs 109.78 crore in September 2005.
- 03Total income was Rs 11.73 crore in six months to September 2005.
- 04The whole Rs 256.54 crore issue was fresh money for power projects.
Risks · 5
- 01As a holding company, its own income was small: Rs 7.45 crore in FY2005.
- 02GIL had not been paid incentives on notional generation since fiscal 2003 and had not been reimbursed for MAT.
- 03Total borrowing was Rs 134.20 crore in September 2005.
- 04Its plants sold power to state distribution companies, so 1 state's payments drove income.
- 05Promoter group holding fell from 99.85% before the issue to 64.91% after it.
Three years of numbers
All figures in ₹ crore, as reported in the GVK Power & Infrastructure offer document.
| Metric | 30 Sep 2005 | 31 Mar 2005 | 31 Mar 2004 | 31 Mar 2003 |
|---|---|---|---|---|
| Assets | 248.04 | 89.94 | 3.96 | 3.93 |
| Total Income | 11.73 | 7.45 | 7.36 | 10.05 |
| Profit After Tax | 4.23 | 1.76 | 2.55 | 4.30 |
| NET Worth | 109.78 | 5.34 | 3.64 | 3.66 |
| Reserves and Surplus | 4.25 | - | - | - |
| Total Borrowing | 134.20 | 84.20 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the GVK Power & Infrastructure RHP.
Where the money goes
₹256.55 Cr of the issue is earmarked to named objects.
About the company
It owned a 53.96% stake in GIL, which ran the 216 MW Jegurupadu Phase I plant and was building the 220 MW Jegurupadu Phase II project, due by mid February 2006.
GIL sold power to the Andhra Pradesh distribution companies, and had disputes over capital cost approval, MAT reimbursement and incentives under its power purchase agreement.
The IPO was Rs 256.54 crore and was entirely a fresh issue at Rs 310, the top of the Rs 260 to Rs 310 band.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
GVK Power & Infrastructure IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
JM Morgan Stanley Pvt. Ltd
22 issues handledBest listing: Infrastructure Development Finance Co (+76.5%). Weakest: House of Pearl Fashions (-9.1%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of GVK Power & Infrastructure?
The current Grey Market Premium is ₹0.
What is the GVK Power & Infrastructure IPO price band?
₹260 to ₹310, on a face value of ₹10.
When is the allotment?
The basis of allotment is TBA, with listing on 27 February 2006.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
