|
Incorporated in 1988, Satluj Jal Vidyut Nigam Ltd (formerly Nathpa Jhakri Power Corporation Limited - NJPC) is a hydroelectric power generation company, originally established as a joint venture of the Government of India ( GOI ) and the Government of Himachal Pradesh (GOHP) to plan, investigate, organize, execute, operate and maintain Hydro-electric power projects. The present authorized share capital of SJVN is Rs 7000 crores. The Nathpa Jhakri Hydro – Electric Power Station– NJHPS ( 1500 MW ) was the first project undertaken by SJVN for execution. The 1500 MW NJHEP has been designed to generate 6612 MU of electrical energy in a 90% dependable year with 95 % machine availability. It is also providing 1500 MW of valuable peaking power to the Northern Grid. Out of the total energy generated at the bus bar, 12 percent is supplied free of cost to the home state i.e. Himachal Pradesh. From the remaining 88% energy generation, 25% is supplied to HP at bus bar rates. Balance power has been allocated to the beneficiary states / UTs of Northern Region by Ministry of Power, Government of India. SJVN is currently constructing the 412 MW Rampur Hydro Electric Project in the state of Himachal Pradesh. SJVN is also implementing three hydro projects (252 MW Devsari, 60 MW Naitwar Mori and 51 MW Jakhol Sankri) in the state of Uttarakhand. Further, SJVN has also been allocated Luhri Hydro Electric Project (775 MW) and Dhaulasidh HEP (66 MW) in the state of Himachal Pradesh for preparation of Detailed Project Report and subsequent execution. Further, SJVN is entering into a Joint Venture for the implementation of 1500 MW Tipaimukh HE Project in Manipur with an equity participation to the extent of 26%.
Company's majority Promoter, the GoI (including through nominees) currently holds 75% of the paid-up share capital and will continue to hold majority of the post-Offer paid-up capital of the Company. The Governor of Himachal Pradesh (including through nominees) currently holds the remainder 25% of the paid-up share capital of the Company.
| Particulars | For the year/period ended (Rs. in Million) |
| 30-Sep-09 | 31-Mar-09 | 31-Mar-08 | 31-Mar-07 | 31-Mar-06 |
| Total Income | 11,347.3 | 16,348.4 | 14,622.8 | 14,761.7 | 13,509.4 |
| Profit After Tax (PAT) | 6,186.2 | 7,594.4 | 7,169.4 | 6,499.8 | 5,854.3 |
The object of the issue is to achieve the benefits of listing on the Stock Exchanges and to carry out the transfer of 410,881,400 Equity Shares by the Selling Shareholder. Listing of the Equity Shares will create liquidity in the Equity Shares through the creation of a public market for the Equity Shares in India.
»» Issue Open: Apr 29, 2010 - May 03, 2010
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 415,000,000 Equity Shares of Rs. 10
»» Issue Size: Rs. 1,079.00 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 23 - Rs. 26 Per Equity Share
»» Market Lot: 250 Shares
»» Minimum Order Quantity: 250 Shares
»» Listing At: BSE, NSE
SJVN Ltd IPO Grading / Rating
CARE has assigned an IPO Grade 4 to SJVN Ltd IPO. This means as per CARE company has 'Above Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CARE IPO Grading Document for SJVN Ltd.
Check IPO Ratings from other stock analysts.
| Number of Times Issue is Subscribed (BSE + NSE) | | As on Date & Time | Qualified Institutional Buyers (QIBs) | Non Institutional Investors | Retail Individual Investors (RIIs) | Employee Reservations | Total | | Shares Offered / Reserved | 246,990,000 | 41,165,000 | 123,495,000 | 3,350,000 | 415,000,000 | | Day 1 - Apr 29, 2010 17:00 IST | 0.7007 | 0.0031 | 0.0368 | 0.0066 | 0.4300 | | Day 2 - Apr 30, 2010 17:00 IST | 1.3395 | 0.2012 | 0.1529 | 0.0619 | 0.8600 | | Day 3 - May 03, 2010 17:00 IST | 9.0265 | 3.3873 | 3.1160 | 0.2463 | 6.6400 |
Satluj Jal Vidyut Nigam Ltd (SJVNL) IPO Alerts
1. Monday, May 17, 2010 10:57:11 AM
2. Friday, May 14, 2010 6:33:30 AM
3. Monday, May 03, 2010 11:12:02 AM
4. Thursday, April 29, 2010 11:12:35 AM
5. Tuesday, April 20, 2010 10:45:51 PM
IPO Rating
Rating: |
IPO Listing Detail
| Listing Date: | Thursday, May 20, 2010 |
| BSE Scrip Code: | 533206 |
| NSE Symbol: | SJVN |
| Listing In: | B Group of Securities |
| Sector: | Power |
| ISIN: | INE002L01015 |
| Issue Price: | Rs. 26.00 Per Equity Share |
| Face Value: | Rs. 10.00 Per Equity Share |
Listing Day Trading Information
| BSE |
| Issue Price: | Rs. 26.00 |
| Open: | Rs. 28.00 |
| Low: | Rs. 24.15 |
| High: | Rs. 28.00 |
| Last Trade: | Rs. 25.05 |
| Volume: | 71,870,453 |
|
| NSE |
| Rs. 26.00 |
| Rs. 27.10 |
| Rs. 24.00 |
| Rs. 27.10 |
| Rs. 25.10 |
| 135,359,993 |
|
Satluj Jal Vidyut Nigam Ltd (SJVNL) IPO Links
Company Contact Information
Registered Office :
SJVNL,
Himfed Building, New Shimla,
Himachal Pradesh, 171009
Phone: +91 177 267 0741/ 0064
Fax: +91 177 267 0542
Email: psr.murthy@sjvn.nic.in
Website: http://www.sjvn.nic.in
Book Running Lead Manager(s)
Satluj Jal Vidyut Nigam Ltd (SJVNL) IPO Message Board
| Please Note: All views and opinions expressed in reader comments are solely those of the individual submitting the comment, and not those of the Chittorgarh.com or its staff. |
|
|
| 905. G.T Jun 03, 2010 2:51:04 PM IST Report Spam! |
| Nhpc , tumnay jistarah say bharat ke janta ko loota hi, ussay Babar and Mahmood gajnavi bhi sarma jay,govt. Duvara public ko lootnay ke yah sabsay sarmnaak gathna hi. |
|
| 904. ds Jun 03, 2010 1:59:10 PM IST Report Spam! |
dear friends be carefull
govt' co's md 's of nhpc and sjvn is planning to wipe out all profits from the company and than they will take downwards the rate of of these shares to with adjusted the lower eps
this process will take 5 to 6 years at such time the rate could come upto 5to6 for nhpc and 4 to 5 for sjvn
this process will be done to accumulate shares at 4 to 5 rs
they will make stable these rates for 8 to 9 years
so my advise is clearly is to sell both hydro power shares at currently if any one to buy it to buy at lower levels at rs 7 to 8 rs
thanks |
|
| 903. Mohit Jun 03, 2010 11:17:21 AM IST Report Spam! |
| Sjvnl will come down upto 75 paisa and trade 10 years in same range. |
|
| 902. Ravi, Bangalore May 31, 2010 8:06:58 PM IST Report Spam! |
STOCK MARKET INVESTMENT - AN OBSERVATION
Speculating in the stock market is very risky. Speculation requires no information or at best information based on unscientific methods of divining movements in the prices of stocks. those buy long or sell short transactions that are initiated by someone regardless of current quoted market price for a stock who believes that there is a greater fool somewhere who will take him out of his position at a price that will produce a profit for him. No deep analysis is required.
A key question for anyone who enters the market: are you an investor or a speculator?
Both wise men and foolish will trade in the market, but no one group by itself will set the price. Nor will it matter what the majority, however overwhelming, may think; for the last owner, and he alone, will set the price. The marginal opinion will determine market price.
Investors and Speculators. So far I have discussed a stock market for investors only. Bull or bear a man may be, and still be an investor rather than a speculator, so long as he looks to dividends rather than to price changes to justify the cost of his stock. There exists another large class of traders, however, made up of speculators, whose business it is to buy and sell for changes in price alone. To these speculators dividends are inconsequential because they hold for too short a time to receive many dividends.
To gain by speculation, a speculator must be able to foresee price changes. Since price changes coincide with changes in marginal opinion, he must in the last analysis be able to foresee changes in opinion. Successful speculation consists in just this. It requires no knowledge of intrinsic value as such, but only of what people are going to believe intrinsic value to be. Now opinion, when it changes, need not change for the right; it may change for the wrong, and the probability of a change for the wrong is about as great as of a change for the right. If opinion were not found in part on current dividends and changes therein, there would be nothing to prevent price and value from drifting miles apart.
Since opinion is made by the news, the task of forecasting opinion resolves itself into the task of forecasting the news. There are two ways to do this: either to cheat in the matter, or to study the forces at work.
Cheating has been outlawed, which tries to prevent insiders from gaining by foreknowledge of dividend changes, earnings statements, contracts let, etc., and requires these insiders to refund all short-term profits in their own stock to the treasury of their company. … In having access to this inside information, officers and directors have a most unfair advantage over the host of ordinary stockholders. Only stupidity or indifference, on the one hand, or great scrupulousness or recklessness on the other hand, can prevent insiders from getting rich in the market, and all that the law itself can really do is to advertise the ethics of the problem.
No one man can hope to be an expert in everything, and if he ventures to speculate outside his own special field he takes the chance of finding that he has bet not with but against the experts, for which impudence he must pay dearly.
|
|
| 901. r.ram May 31, 2010 8:48:57 AM IST Report Spam! |
| Buy Power Grid corporation, target 180 ,cancelled fpo ,divident 12.5% ,fantastic resut ,fiis are incrising ther holding ,lic,sbi also buying large quntity, |
|
| 900. H jatana May 29, 2010 11:28:01 AM IST Report Spam! |
| better not to invest in SJVNL and NHPC, as there are many better options available, which can give better return like L &T, REC, etc |
|
| 899. hihihi May 28, 2010 6:21:19 PM IST Report Spam! |
Ppl should move out of sjvn at around 25 and switch to NHPC because :-
1. There is no capacity addition planned for sjvn till 2013 (assuming no delays which is an abberation because their current project is already behind schedule) while NHPC will add close to 1500 MW till that time.So NO GROWTH of revenues and profits for 3 years.
2. NHPC is planning to invest its surplus funds in Mutual funds through LIC and SBI. That can improve the ROI of the company.
3. NHPC dividend already announced (Rs. 0.55 per share). IT can cover some of the losses of SJVN.
4. Tulsian has told to sell NHPC and buy SJVN. :)
I have hodings in NHPC . I sold SJVN on listing day at 25.95 and invested in NHPC. Criticism and comments are welcome. We need to help each other so all can make some money.... |
|
| 898. Tarun Mittal May 28, 2010 12:02:53 PM IST Report Spam! |
896.HI Ravi,
SJVN seems to be low beta stock, it is not moving in either direction very fast and the volume are very low. It's fair price may be high but it is not likely to go in either direction very fast. I thinik it is good investment but not a great investment. It seems to be like a good FD and not like a good stock.
I request your comments. |
|
| 897. moneyguru May 27, 2010 10:39:26 PM IST Report Spam! |
sure shot this issue is a hit ..
will touch 140 first day and then 185 next day..
|
|
| 896. Ravi, Bangalore May 27, 2010 7:55:31 PM IST Report Spam! |
SJVN 24- Target 23.9, 22.95, 21.85 or even below 20.8.
As long as it trades below 25.40, it is bearish.
When it crosses 25.40, it becomes bullish & reach 27.10.
Fundamentally, fair value seen at Rs.38. |
|
| 895. Vik May 27, 2010 2:36:29 PM IST Report Spam! |
| Will SJVN go above 30 in next 6 months??? |
|
| 894. UCA May 25, 2010 8:14:51 PM IST Report Spam! |
SJVNL Public Issue
Recieved 1269 and 845 shares against 2 applications but still not recieved excess amount due for refund.
Application # 25483750 , # 25483751 What is to be done
|
|
| 893. IPOExpert May 24, 2010 10:58:15 AM IST Report Spam! |
Forget about investing in standard chartered idr its fair price is not more than 90 rs. i think f1 will divert all its fund from indian market to their UK branch and give money to their international friends.
stock to loose 30% on opening
i was surprised to see sjvnl going below issue price because govt priced it fine and now they will have much difficulty in collecting money from ipo from retail participation from now onwards
|
|
| 892. T.C May 23, 2010 8:59:52 PM IST Report Spam! |
| Mr. Nayak i will not apply idr at rs.27, yah sjvnl and nhpc kay investors ko mubarak ho. |
|
| 891. Nayak May 23, 2010 8:51:08 PM IST Report Spam! |
| Fair value of standard chartared idr is rs. 47 only, after listing it will trade 27 to 52. |
|
| 890. Ballo May 23, 2010 6:40:17 PM IST Report Spam! |
| After ipo,fpo now idr ha ha ha . |
|
| 889. Paal May 23, 2010 12:41:12 PM IST Report Spam! |
| Idr holders are not elagible for divedent ,bonus,and right therefore it will list upto 50% discount form current market rate,look prospectus. |
|
| 888. vivek May 23, 2010 9:07:14 AM IST Report Spam! |
. V. S. Santosh Kumar--business line
Conservative investors looking for defensive options can subscribe to the Indian Depository Receipt (IDR) offer of Standard Chartered (StanChart) PLC. The IDR is an opportunity for investors to invest in a globally diversified (both in terms of geography and segments) banking and financial services conglomerate at a reasonable price. Investors, however, need to bear in mind the higher capital gains and dividend tax incidence on returns from IDRs compared with domestic shares. Investors in the IDR would also lose out if the Rupee appreciates vis a vis the Pound.
StanChart's global access to low cost funds, the possibility of better growth driven by improving credit offtake as well as margins in the emerging markets and likely improvement in fee income as capital markets stabilise, argue for the investment.
Valuation
Each IDR represents one-tenth of Standard Chartered PLC's UK listed stock. The actual price at which the IDRs are offered for subscription by investors will be known only on Monday May 24th. The Friday closing price of Stanchart's shares at the London Stock Exchange offers a clue as to the likely level around which the eventual price would be determined. At Rs 103.6 (computed based on a 5 per cent discount on the current price of £16.1) ), the stock would discount the bank's calendar 2009 earnings by 13.4 times. The offer would be at a price-book value of 2.1 times, excluding goodwill. The pre-tax dividend yield would be 3.5 per cent.
This price would place the stock at a discount to most of the Indian private sector banks (1.8 to 4.4 times). While StanChart may not match the pace of Indian private sector banks on growth in its asset book, its large size, well-diversified presence across emerging markets, along with a clean balance sheet and strong risk management systems, make the stock a good investment.
The profit before tax (PBT) of StanChart for the year ended December 31, 2009 was Rs 24,044 crore .
Standard Chartered PLC intends to raise $500 million from this offer of IDRs. The primary objective appears to be an India listing as the offer will only add 1.18 per cent to the equity base and shore up the core capital ratio marginally from 8.92 per cent to 9.16 per cent. As of December 2009, the capital adequacy ratio of Standard Chartered PLC stood at a comfortable 16.5 per cent.
Business
Standard Chartered PLC is a holding company that offers a host of financial services through its subsidiaries in almost 70 countries with predominant presence in the high growth markets of Hong Kong, Korea, India, China, Africa and other Asian countries.
The company segments its business into Wholesale segment and Consumer segment.
The Wholesale segment comprises transaction banking , capital market services, corporate finance and principal finance mainly targeted to corporates. The bank's consumer banking encompasses credit cards, personal loans, wealth management, mortgages and auto loans.
StanChart has an international credit rating of A, as against BBB- sovereign credit rating for India, an indicator of the edge it enjoys over Indian banks in accessing global funds for its operations at a low cost. The bank's high low-cost deposit proportion of 53 per cent as of December 2009, also helps reduce the overall cost of funds.
Financials
StanChart's net profit attributable to shareholders grew by 14 per cent annually during 2006-09. The PBT during the same period grew at an annualised 17.4 per cent. During the period 2006-09, the profit contribution from under-banked and high-margin geographies such as India, Asian economies such as China and Indonesia and Africa rose at a much faster pace than that from the developed regions, thereby increasing the overall profitability. StanChart also made acquisitions such as Union Bank of Pakistan (in 2006), American Express Bank (2008) and Korea First Bank Hsinchu International Bank which strengthened its presence in the emerging markets. StanChart adopts advanced Basel II norms on par with global banks with respect to its operational structure, which lends higher transparency and increases its readiness to tackle risks.
India, despite being a smaller business in terms of lending, has been a significant profit contributor to StanChart owing to higher fee based income from the growing wholesale banking business. India contributed 20 per cent to PBT, though it only made up 6.5 per cent of the asset book in 2009.
Despite it being a troubled year, StanChart weathered 2009 reasonably well. While its total income grew by 9 per cent, the costs only grew at 4 per cent thereby improving the group operating profits. This helped cost-income ratio fall from 56 per cent in 2008 to 51 per cent in 2009. A huge jump in the provisioning for bad-assets (51 per cent increase in 2009) partly limited profit growth but improved the overall provision coverage.
StanChart also has significant fee income (50 per cent of total income) coming in from services such as cash management, wealth management, principal investments and corporate finance. For 2009, the 22 per cent fall in operating profits for consumer banking was made up by the 36 per cent expansion in wholesale banking profits.
In the year ahead, the strong traction in consumer credit offtake in StanChart's key markets — India, Hong Kong, Korea and Singapore — may aid improvement in consumer banking offtake.
StanChart's Net Interest Margin, which was maintained at 2.5 per cent for 2006-08, fell to 2.3 per cent in 2009. While this was a function of the pressure on interest rates last year, margins may improve significantly from now on the back of the bank's low funding costs, rising rates and demand for credit.
Consumer banking which was a laggard in 2009 too may drive profit growth as the wealth management business revives as the global economy revives. StanChart indicated in its Interim Management Statement for the first quarter of 2010, that the group witnessed improvement in volumes, as the consumer segment increased its contribution to the overall income and profits. There was also increase in lending volumes. StanChart's overall asset quality is reasonable in the global context, especially given its emereging markets focus. The Gross NPA ratio stood at 2 per cent with an overall provision coverage of 70 per cent by end of 2009. The average loan to value is low in both mortgages (50 per cent) and wholesale banking , substantially limiting credit risk.
Credit growth is usually correlated to overall economic activity and on this score investors in StanChart may not have much to worry about. IMF forecasts regions such as Developing Asia, Africa and West Asia may have GDP growth rates of 8.4 per cent, 4.3 per cent, 4.5 per cent for 2010 and 8.4 per cent, 5.3 per cent and 4.8 per cent in 2011. This may have a two-fold impact on business as consumer demand revives and corporates revive borrowing plans. The prospect of a shift from a very easy monetary policy to a slightly tighter one does exist in India, China and Korea. However, StanChart's large low-cost deposit base and its access to low cost funds may help it weather such a phase better than peers.
Offer details: The issue opens on 25 May and closes on 28 May 2010. .
|
|
| 887. Nayak May 23, 2010 8:57:47 AM IST Report Spam! |
| Thanks god i have stop payent of my 6 full app. Last time in sjvnl. |
|
| 886. T.C May 23, 2010 7:42:20 AM IST Report Spam! |
| Idr, totaly flop show,only folish investors how don,t know any think about market will invest like sjvnl,nhpc,ntpc,nmdc etch. |
|
|
|
|
|
