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<keyword id="598784" type="UNKNOWN" weightage="100" keywordseo="Grandhi-Mallikarjuna-Rao">Grandhi Mallikarjuna Rao</keyword> will build Nepal’s largest hydropower plant. The $1.15-billion <keyword id="2525117" type="UNKNOWN" weightage="100" keywordseo="Upper-Karnali-Hydropower-plant">Upper Karnali Hydropower plant</keyword> will be the biggest private foreign investment in Nepal. 
 
The Nepal government has given its go-ahead to the proposal. The Nepalese Cabinet approved a draft agreement to allow the company to build the power plant, which would have a capacity of 900 megawatt. 
 
“This agreement would open the door for more foreign investment to enter Nepal to develop hydro power projects,” Govinda Pokhrel of Nepal’s Planning Commission said. 
 
It will take five years for the company to build the plant, and make it operational, including constructing the transmission lines. It will operate the plant for 25 years, and hand it over to Nepal at the end of the term.

GMR To Set Up A Power Plant In Nepal

The Rs 10,000 crore IPO of <keyword id="23935515" type="General" weightage="100" keywordseo="NTPC-Green-Energy-IPO" source="keywords">NTPC Green Energy IPO</keyword> opened for subscription today and will close on November 22, 2024. With the listing on NSE and BSE tentatively scheduled for Wednesday, November 27, 2024, the IPO has a price band of Rs 102-108. The offer entirely comprises a fresh issue of shares worth 92.59 crore shares. As of November 11, 2024, NTPC's IPO had been subscribed 0.31x, with the retail category subscribing 1.27x to issue. However, the offer received muted responses from QIBs, who did not subscribe at all, and also from NIIs, who subscribed just 0.13x to the offer. Consequently, the company's GMP (grey market premium) was a mere Rs 1, taking the potential listing gains per share to just 0.93%. NTPC Green Energy, incorporated in 2022, is a Maharatna company and a wholly-owned subsidiary of NTPC (National Thermal Power Corporation) Limited. The company is the largest public sector enterprise in the renewable energy space (hydropower not included) in the country in terms of operational capacity and power generation. In the first half of FY25, ending on September 30, 2024, NTPC reported a net profit of Rs. 175.30 crore on a total income of Rs. 1,132.74 crore. However, the issue is not without its share of risks. As of June 30, 2024, the company had business relationships with nine off-takers. Out of this, a single entity accounts for nearly 50% of the company's revenue, while the top 5 make up over 85% of its revenue. Dependence on a limited number of off-takers poses a risk to revenue stability and overall performance. <h2>Should you invest?</h2> Most brokerage houses recommend subscribing to the IPO, but only from a long-term perspective. However, some experts also recommend staying away from the issue. Per Anand Rathi's research, "On valuation parse at the upper price band Rs 108, the issue is asking for a market cap of Rs 9,10,000 million, and based on FY 2025e annualized earnings and fully diluted post-IPO paid-up capital, the company is asking for a PE of 259.56x, which appears aggressively priced. But considering its current established capacities and future expansion capacities, this is a pure long-term story. Therefore, we believe that this issue may be considered for its long-term growth. Says Bajaj Broking, "If we attribute annualized FY25 earnings to post-IPO fully diluted equity base, then the asking price is at a P/E of 257.14, and based on FY24 earnings, the P/E stands at 263.41. Thus, the issue appears aggressively priced. But considering its current established capacities and future expanded capacities, this is a pure long-term story. The company is a leading renewable power-generating PSU with assets in solar and wind power generation." However, as the IPO note further adds, the IPO is considered aggressively priced based on FY25 annualized earnings. It advises investors who are well-informed and have surplus cash to consider investing moderate funds for the long term, as this represents a pure long-term investment opportunity. On the other hand, SAMCO Securities recommends avoiding the offer. "As a subsidiary of NTPC operating in a high-growth segment, the company demonstrates significant future potential, leveraging NTPC's extensive experience in the sector. A peer comparison of key fundamentals presents a favorable image, with the company outperforming its peers in revenue growth, profit margins, and leverage ratios." "However, its capacity utilization factor (CUF), a critical measure of a plant's electricity generation efficiency, is relatively lower for its solar and wind projects compared to competitors. Additionally, an analysis of the company's price-to-earnings (P/E) ratio against its peers indicates overvaluation, raising concerns about its long-term wealth. creation prospects. Consequently, investors are advised to avoid the IPO," it added.

NTPC Green Energy IPO opens for subscription today. Should you invest?

<keyword id="22253039" type="General" weightage="20" keywordseo="Gala-Precision-Engineering" source="keywords">Gala Precision Engineering</keyword> Ltd on Tuesday said it has fixed a <keyword id="19911460" type="General" weightage="20" keywordseo="price-band" source="keywords">price band</keyword> of Rs 503-529 per <keyword id="20462036" type="General" weightage="20" keywordseo="share" source="keywords">share</keyword> for its Rs 168-crore initial public offering (<keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword>). The initial share sale will open on September 2 and conclude on September 4, the company announced. The IPO is a combination of a fresh issue of 25.58 lakh <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> worth Rs 135.34 crore and an offer for sale (OFS) of 6.16 lakh equity shares valued at Rs 32.58 crore by promoter group entities and individual shareholders. This aggregates the transaction size to Rs 168 crore at the upper end of the price band of Rs 529. Proceeds from the fresh issue will be used for setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbudur in Tamil Nadu for <keyword id="19914449" type="General" weightage="20" keywordseo="manufacturing" source="keywords">manufacturing</keyword> high tensile fasteners and hex bolts; purchase of equipment, plant and machinery at Wada, Palghar in Maharashtra; payment of debt and general corporate purposes. Gala Precision Engineering is a precision component manufacturer of technical springs like disc &amp; strip springs (DSS); coil &amp; spiral springs (CSS) and special fastening solution (SFS). The company supplies its products to original equipment manufacturers (OEMs), Tier 1 and channel partners; used in sectors like renewable energy, including wind turbine and hydropower plants, various industrial sectors such as electrical, off highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways. The company's revenue from operations was Rs 202.54 crore in fiscal 2023-24 and profit after tax stood at Rs 22.33 crore. Investors can bid for a minimum of 28 equity shares and in multiples of 28 equity shares thereafter. PL Capital Markets Pvt Ltd is the sole book-running lead manager to the issue. The equity shares are proposed to be listed on BSE and NSE. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-to-be-launched-on-september-9-heres-everything-we-know-so-far/articleshow/112828818.cms">Apple iPhone 16 to be launched on September 9 – here’s everything we know so far</a> <a href="https://www.businessinsider.in/stock-market/news/a-company-with-8-employees-looking-to-raise-12-crore-ended-up-getting-applications-worth-over-4700-crore/articleshow/112824522.cms">Delhi firm with just 8 employees seeks ₹12 crore via IPO, gets ₹4,700 crore worth of investor applications!</a> <a href="https://www.businessinsider.in/tech/news/telegram-comes-under-the-scanner-in-india-for-extortion-and-gambling-will-it-be-banned-in-india/articleshow/112807370.cms">Telegram comes under the scanner in India for extortion and gambling – will it be banned in India?</a>

Gala Precision Engineering IPO to open on Sep 2; price band set at ₹503-529/share

<ul><li><keyword id="20623836" type="General" weightage="20" keywordseo="Gala-Precision-Engineering-IPO" source="Orion">Gala Precision Engineering IPO</keyword> has been fully subscribed within minutes after opening.</li><li>The ₹168 crore IPO from the company will close on Wednesday, September 4.</li><li>Gala Precision Engineering Ltd has fixed a price band of ₹503-529 per share</li></ul>The initial public offer (IPO) of Gala Precision Engineering was fully subscribed within minutes of opening for bidding on Monday. The IPO will close on Wednesday, September 4. Gala Precision Engineering is a precision component manufacturer of technical springs like disc &amp; strip springs (DSS); coil &amp; spiral springs (CSS) and Special Fastening Solutions (SFS). The company supplies its products to original equipment manufacturers (OEMs), Tier 1 and channel partners; used in sectors like renewable energy, including wind turbine and hydropower plants, various industrial sectors such as electrical, off-highway equipment, infrastructure and general engineering, mobility segments such as automotive and railways. The initial share sale received bids for 47,77,444 shares against 22,23,830 shares on offer, reflecting 2.15 times subscription, as per NSE data till 11:21 AM. The portion for Retail Individual Investors (RIIs) garnered 3.15 times subscription while the quota for non-institutional investors was subscribed 2.54 times. Gala Precision Engineering Ltd has fixed a price band of ₹503-529 per share for its ₹168 crore <keyword id="19913114" type="General" weightage="20" keywordseo="initial-public-offering" source="keywords">initial public offering</keyword> (IPO). The IPO includes a fresh issue of 25.58 lakh equity shares worth ₹135.34 crore and an offer for sale (OFS) of 6.16 lakh equity shares valued at ₹32.58 crore by promoter group entities and individual shareholders. This aggregates the transaction size to ₹168 crore at the upper end of the price band of ₹529. Proceeds from the fresh issue will be used for setting up a new facility at Vallam-Vadagal, SIPCOT, Sriperumbudur in Tamil Nadu for manufacturing high tensile fasteners and hex bolts; purchase of equipment, plant and machinery at Wada, Palghar in Maharashtra; payment of debt and general corporate purposes. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. With inputs from agencies. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/webstories/realme-13-plus-5g-vs-iqoo-z9s-pro-battle-of-the-under-25000-smartphones/slidelist/112924868.cms">Realme 13 Plus 5G vs iQOO Z9s Pro – Battle of the under ₹25,000 smartphones</a> <a href="https://www.businessinsider.in/stock-market/webstories/baazar-style-retail-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112920678.cms">Baazar Style Retail IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-september-2024/slidelist/112917920.cms">Upcoming cars launching in India in September 2024</a>

You Searched For "Upper Karnali Hydropower plant" and got 4 results

GMR To Set Up A Power Plant In Nepal

BI India Bureau

NTPC Green Energy IPO opens for subscription today. Should you invest?

BI India Bureau

Gala Precision Engineering IPO to open on Sep 2; price band set at ₹503-529/share

PTI

Gala Precision Engineering IPO fully subscribed within minutes on day one

Sourabh Jain

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