Citing a promising future for the power sector in the country, Delhi-based Jaypee Group said that it would emerge as the largest hydro power player in the private sector by 2010 with a total installed capacity of 1,700 mw. |
Jayaprakash Hydro-Power Limited (JHPL), a wholly-owned subsidiary of the Jayaprakash Associates Limited (JAL) which is part of the Rs 3,000-crore Jaypee group, is the first hydro power venture which runs a 300 mw hydel plant in Himachal Pradesh. |
The Jaypee Group is scheduled to commission its second hydel project of 400 mw capacity in June 2006 and is expected to complete the 1,000 mw hydel project in 2010. |
According to Suresh Kumar, director of the group, the two projects are being taken up by two different subsidiaries other than JAL. |
Referring to JAL's plans of offering 36.66 per cent stake in JHPL to public through a book-building route here on Thursday, Suresh Kumar said the prospective investors in the company can feel doubly safe as the construction of the project was already over. |
The plant became operational in June 2003 with a 40-year power purchase agreement (PPA) with the Himachal Pradesh Electricity Board, he said. |
The issue will open on March 22, 2005 and close on March 29, 2005. |
The price band is set between Rs 27 and Rs 32 per share at a face value of Rs 10 each. |