JSW Energy makes a lacklustre debut

JSW Energy ended Day 1 at Rs 101, a premium of Rs 1 to the issue price.

The stock opened at Rs 102 and touched a high of Rs 106 and a low of Rs 99 during the day, accompanied with huge trading volumes of 32,240,814 shares.
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(Updated at 0908 am)

Power producer JSW Energy, which raised Rs 2,700 crore through initial share sale last month today listed at Rs 102.

The stock is currently trading at Rs 105, a premium of 5% to its issue price of Rs 100. Around 4.8 million shares have changed hands at the counter on the BSE.

The IPO of JSW Energy, which is controlled by India's richest woman Savitri Jindal, had attracted bids 1.67 times the shares on offer, marking the lowest for an energy share sale in 2009.

The energy firm has an operational capacity of 860 Mw with additional 2,790 Mw capacity under construction and implementation stage.

Meanwhile, the electricity generating unit of the group, Jindal Power, is also waiting to test the appetite for energy shares and has filed the draft prospectus with the market regulator for raising Rs 7,200 crore.