Jaiprakash Hydro-Power IPO
Jaiprakash Hydro-Power IPO — date, price band, lot size & details 2005
Jaiprakash Hydro-Power listed on 18 Apr 2005 at ₹32, flat to the ₹32 issue price.
Jaiprakash Hydro-Power runs the 300 MW Baspa II run of the river hydro power plant in Kinnaur district, Himachal Pradesh, the largest private sector hydro plant in India at the time. Its total income was Rs 296.62 crore in FY2004.
Stock price
Jaiprakash Hydro-Power 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 22 Mar 2005
- Close 29 Mar 2005
- Allotment TBA
- Refund/credit TBA
- Listing 18 Apr 2005
Issue summary
The terms of the offer, as filed.
| IPO Dates | 22 to 29 Mar, 2005 |
|---|---|
| Price Band | ₹27 – ₹32 |
| Face Value | ₹10 |
| Lot Size | 100 Shares |
| Issue Size | ₹576 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 3,200 |
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 100 shares at the ₹32 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 100 | ₹3,200 |
| Retail (max) | 62 | 6,200 | ₹1,98,400 |
| S-HNI (min) | 63 | 6,300 | ₹2,01,600 |
| S-HNI (max) | 312 | 31,200 | ₹9,98,400 |
| B-HNI (min) | 313 | 31,300 | ₹10,01,600 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Its 300 MW plant was the largest private sector hydro plant in India.
- 02Profit after tax was Rs 57.91 crore in FY2004 and Rs 64.02 crore in six months to September 2004.
- 03Net worth rose from Rs 331.06 crore in FY2002 to Rs 575.96 crore in September 2004.
- 04Run of the river hydro power has no fuel cost; the plant is designed for 1,213.18 MU a year.
Risks · 5
- 01Total borrowing was Rs 1,089.94 crore in September 2004, nearly twice its net worth.
- 02All income came from 1 plant and one buyer, the Himachal Pradesh state electricity board.
- 03Hydro output depends on river flows, so a dry year cuts income; total income was Rs 296.62 crore in FY2004.
- 04The whole Rs 576 crore issue was an offer for sale by JAL, so none of it went to the company.
- 05JAL held 100% before the offer and 63.34% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Jaiprakash Hydro-Power offer document.
| Metric | 30 Sep 2004 | 31 Mar 2004 | 31 Mar 2003 | 31 Mar 2002 |
|---|---|---|---|---|
| Assets | 1,665.90 | 1,597.09 | 1,508.16 | 1,239.41 |
| Total Income | 198.33 | 296.62 | ||
| Profit After Tax | 64.02 | 57.91 | ||
| NET Worth | 575.96 | 529.62 | 431.06 | 331.06 |
| Reserves and Surplus | 121.89 | 57.91 | ||
| Total Borrowing | 1,089.94 | 1,067.47 | 1,077.10 | 908.35 |
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 Jaiprakash Hydro-Power RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Jaiprakash Hydro-Power IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹1.18 | ₹2.61 |
| P/E Ratio (x) | 27.13 | 12.27 |
| Market Cap at Offer Price (₹ Cr) | ₹1,736.14 | ₹784.92 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹32 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the Jaiprakash Hydro-Power IPO will be updated shortly.
About the company
It runs a 300 MW run of the river hydro power plant on the river Baspa, a tributary of the Satluj, in Kinnaur district, Himachal Pradesh, on a build, own and operate basis. The plant is designed to produce about 1,213.18 MU of energy a year.
It was the largest hydro power plant commissioned in the private sector in India, and the state electricity board and government approved its capital cost at Rs 15,500 million.
The IPO was Rs 576 crore and was entirely an offer for sale by JAL at Rs 32, the top of the Rs 27 to Rs 32 band, so the company received no money.
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.
Jaiprakash Hydro-Power 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.
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JM Morgan Stanley Pvt. Ltd
22 issues handledBest listing: Infrastructure Development Finance Co (+76.5%). Weakest: House of Pearl Fashions (-9.1%).
Axis Bank Ltd
9 issues handledBest listing: KNR Constructions (+23.5%). Weakest: Innoventive Industries (-4.3%).
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 Jaiprakash Hydro-Power?
The current Grey Market Premium is ₹0.
What is the Jaiprakash Hydro-Power IPO price band?
₹27 to ₹32, on a face value of ₹10.
When is the allotment?
The basis of allotment is TBA, with listing on 18 April 2005.
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.
