Suzlon Energy IPO
Suzlon Energy IPO — date, price band, lot size & details 2005
Suzlon Energy listed on 19 Oct 2005 at ₹639, 25.3% above the ₹510 issue price.
Suzlon Energy is a Pune based maker of wind turbine generators and was India's leading wind turbine company, installing 42.8% of India's new wind capacity in 2004. Its total income was Rs 1,965.92 crore in FY2005.
Stock price
Suzlon Energy 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 23 Sep 2005
- Close 29 Sep 2005
- Allotment TBA
- Refund/credit TBA
- Listing 19 Oct 2005
Issue summary
The terms of the offer, as filed.
| IPO Dates | 23 to 29 Sep, 2005 |
|---|---|
| Price Band | ₹425 – ₹510 |
| Face Value | ₹10 |
| Lot Size | 12 Shares |
| Issue Size | ₹1496.34 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 6,120 |
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 12 shares at the ₹510 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 12 | ₹6,120 |
| Retail (max) | 32 | 384 | ₹1,95,840 |
| S-HNI (min) | 33 | 396 | ₹2,01,960 |
| S-HNI (max) | 163 | 1,956 | ₹9,97,560 |
| B-HNI (min) | 164 | 1,968 | ₹10,03,680 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01It installed 42.8% of India's new wind capacity in 2004.
- 02It was the sixth largest wind turbine maker in the world by 2004 installations.
- 03Total income rose from Rs 269.71 crore in FY2003 to Rs 1,965.92 crore in FY2005.
- 04Profit after tax rose from Rs 26.90 crore in FY2003 to Rs 385.86 crore in FY2005.
- 05Net worth rose from Rs 258.66 crore in FY2003 to Rs 903.92 crore in FY2005.
Risks · 5
- 01Some rivals had longer experience and greater resources, as disclosed in the prospectus; profit was Rs 125.06 crore in FY2004.
- 02Wind projects depend on government incentives and tariffs; total income was Rs 874.86 crore in FY2004.
- 03Wind farms have faced opposition from local communities in some countries; net worth was Rs 903.92 crore.
- 04Customers may not use land bought by its associate companies; it paid Rs 72.4 million to its promoter group in related deals.
- 05Promoter group holding fell from 76.94% before the issue to 69.78% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Suzlon Energy offer document.
| Metric | 31 Mar 2005 | 31 Mar 2004 | 31 Mar 2003 |
|---|---|---|---|
| Total Income | 1,965.92 | 874.86 | 269.71 |
| Profit After Tax | 385.86 | 125.06 | 26.90 |
| NET Worth | 903.92 | 369.63 | 258.66 |
| Reserves and Surplus | 702.36 | 330.50 | 245.70 |
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 Suzlon Energy RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
Suzlon Energy IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Pre-Issue | Post-Issue |
|---|---|---|
| EPS (₹) | ₹14.80 | ₹13.42 |
| P/E Ratio (x) | 34.47 | 38.00 |
| Market Cap at Offer Price (₹ Cr) | ₹13,296.53 | ₹14,663.83 |
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 ₹510 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
₹1,317.90 Cr of the issue is earmarked to named objects.
About the company
It makes wind turbine generators (WTGs) and offers wind power solutions from design to operation and maintenance.
It installed 42.8% of the wind capacity added in India in calendar 2004 and was the sixth largest wind turbine maker in the world by annual installations that year.
The IPO was Rs 1,496.34 crore, with Rs 1,364.90 crore of fresh issue and Rs 131.44 crore of offer for sale, at Rs 510, the top of the Rs 425 to Rs 510 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.
Suzlon Energy 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.
Axis Capital
260 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
CLSA India Pvt. Ltd
18 issues handledBest listing: Unicommerce eSolutions (+117.6%). Weakest: ICICI Securities (-16.3%).
YES Bank Ltd
14 issues handledBest listing: CDSL (+67.8%). Weakest: New India Assurance (-6.3%).
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 Suzlon Energy?
The current Grey Market Premium is ₹0.
What is the Suzlon Energy IPO price band?
₹425 to ₹510, on a face value of ₹10.
When is the allotment?
The basis of allotment is TBA, with listing on 19 October 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.
