Buy for Dec 6th 2007 ( BGR ENERGY IPO )
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BGR Energy
Offer price:425-480
BGR Energy Systems incorporated as a private limited company on Feb. 18, 1985, was converted into a public limited company on March 3, 1994, and received its present name on June 28, 2007. The company supplies equipment, systems and services to the power and process industries, executes power projects, and provides turnkey balance of plant services to the power industry.
The company operates through seven complementary businesses including power projects, captive power projects, oil and gas equipment, air fin coolers; environmental engineering, electrical projects, and infrastructure. The products manufactured include heat exchangers, pressure vessels, high frequency resistance-welded finned tubes, condensers, deaerators, pipeline equipment, heat recovery steam generators and various boiler components. The manufacturing units are located in Chennai. The company undertakes interstate trading of electricity under the F category licence.
The company has executed 131 contracts in 42 countries and as of July 15, 2007, it had a consolidated order backlog of INR 21,657.85 million. It has undertaken several BOP power projects within India, including power projects in Valuthur and Karuppur (Tamil Nadu) and Chittorgarh and Dholpur (Rajasthan). It is executing turnkey BOP coal-fired power projects in Vijayawada and Bhoopalapalli (Andhra Pradesh), both with an output capacity of 500 MW, and executing an EPC contract in Valuthur for a gas-based power plant with an output capacity of 92.2 MW. The company has Progen Systems & Technologies as its subsidiary and GEA Cooking Tower Technologies India in joint venture.
The air fin coolers, environmental engineering and oil and gas businesses provide products and services both in India and abroad. Clients are located in Asia, the Middle East, Africa and Europe. The registered office is located at A-5, Pannamgadu Industrial Estate, Ramapuram Post, Sullurpet village, Nellore district, Andhra Pradesh-524401.
Recent Developments
26-NOV-07
BGR Energy Systems plans to enter capital market with its initial public offering of 9,136,000 shares on Dec. 5, 2007. The price band of the 100% book-building issue of face value Rs 10 is fixed at Rs 425-Rs 480 per share. At the lower price band, the company would garner Rs 3,882.8 million and at the upper limit would garner Rs 4,385.2 million. Net issue to the public will be of 8,636,000 equity shares and would constitute 11.99% of the post-issue paid-up capital. The company has entered into agreements with certain investors for a placement of 2,880,000 equity shares and a transfer by its promoter of 1,440,000 equity shares.
Future Plans
BGR Energy Systems plans to utilize the net proceeds from the IPO to augment long-term working capital requirements and expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East.
BGR Energy
Offer price:425-480
BGR Energy Systems incorporated as a private limited company on Feb. 18, 1985, was converted into a public limited company on March 3, 1994, and received its present name on June 28, 2007. The company supplies equipment, systems and services to the power and process industries, executes power projects, and provides turnkey balance of plant services to the power industry.
The company operates through seven complementary businesses including power projects, captive power projects, oil and gas equipment, air fin coolers; environmental engineering, electrical projects, and infrastructure. The products manufactured include heat exchangers, pressure vessels, high frequency resistance-welded finned tubes, condensers, deaerators, pipeline equipment, heat recovery steam generators and various boiler components. The manufacturing units are located in Chennai. The company undertakes interstate trading of electricity under the F category licence.
The company has executed 131 contracts in 42 countries and as of July 15, 2007, it had a consolidated order backlog of INR 21,657.85 million. It has undertaken several BOP power projects within India, including power projects in Valuthur and Karuppur (Tamil Nadu) and Chittorgarh and Dholpur (Rajasthan). It is executing turnkey BOP coal-fired power projects in Vijayawada and Bhoopalapalli (Andhra Pradesh), both with an output capacity of 500 MW, and executing an EPC contract in Valuthur for a gas-based power plant with an output capacity of 92.2 MW. The company has Progen Systems & Technologies as its subsidiary and GEA Cooking Tower Technologies India in joint venture.
The air fin coolers, environmental engineering and oil and gas businesses provide products and services both in India and abroad. Clients are located in Asia, the Middle East, Africa and Europe. The registered office is located at A-5, Pannamgadu Industrial Estate, Ramapuram Post, Sullurpet village, Nellore district, Andhra Pradesh-524401.
Recent Developments
26-NOV-07
BGR Energy Systems plans to enter capital market with its initial public offering of 9,136,000 shares on Dec. 5, 2007. The price band of the 100% book-building issue of face value Rs 10 is fixed at Rs 425-Rs 480 per share. At the lower price band, the company would garner Rs 3,882.8 million and at the upper limit would garner Rs 4,385.2 million. Net issue to the public will be of 8,636,000 equity shares and would constitute 11.99% of the post-issue paid-up capital. The company has entered into agreements with certain investors for a placement of 2,880,000 equity shares and a transfer by its promoter of 1,440,000 equity shares.
Future Plans
BGR Energy Systems plans to utilize the net proceeds from the IPO to augment long-term working capital requirements and expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East.
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