17 November 2009 - Indian iron and steel producer JSW Steel Ltd (BOM:500228) has hired JM Financial Consultants, Kotak Mahindra Capital and ICICI Securities to handle the initial public offering (IPO) of its power division JSW Energy, managing director Sajjan Jindal said today.
The offering, slated for December 2009, will be also managed by IDFC-SSKI Ltd JP Morgan India, SBI Capital Markets, Morgan Stanley India and IDBI Capital Market Services.
The steel maker intends to sell some 15% of the company, valued at INR200bn (USD4.3bn/EUR2.9bn), and to get INR30bn from the transaction.
JSW Energy will channel INR21.3bn from the raised funds into the expansion of its operations, while another INR4.75bn will go for debt redemption.
| NIFTY 
