Interestingly, the company is jointly owned by another listed power company, NTPC, which was in the news recently after the debacle of the Reliance Power IPO, and was setting the benchmark of a perfect alternate to investing in Reliance Power. Other partner owners are Gail India Limited, and MSEB.
The primary reason for IPO of Ratnagiri Gas is that it is incurring a huge debt of 70 billion Rs. So from the 10 billion Rs. raised thrugh the IPO, the company will make a part repayment of debt to the tune of 5 billion Rs.
Related: Should you apply for an IPO?
The Dabhol plant will be fully operational by the first week of April when the third power generating unit is commissioned. Majority of the work on the liquefied natural gas (LNG) terminal has also been undertaken and it will be commissioned in November. The breakwater, which will enable the five million tons a year LNG terminal operate to full capacity, would be ready by the end of 2011.
| No Information is presently available about the offer price, price band of the shares. The IPO is expected in October-November this year. Hopefully, situation will improve by the year and Ratnagiri Gas can think about capitalizing on the IPO business. | Table of Contents |
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