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Aegon Religare Life Insurance infuses Rs 70 cr capital
The promoters of Aegon Religare Life Insurance today infused fresh capital of Rs 70 crore into the company taking the total base to Rs 465 crore.

SAIL, NMDC to sign pact for mining limestone reserves
Two top PSUs under the steel ministry -- SAIL and NMDC -- will enter into an agreement on Monday to mine Arki Limestone Mine in Himachal Pradesh, the home state of Steel Minister Virbhadra Singh.

News of the day

FII inflow in stock markets cross $6-bn mark
In a sign of confidence in the Indian markets, foreign institutional investors (FII) pumped in over $6 billion, or about Rs 29,940 crore this year, with over $1 billion coming in July alone.
Public Company

JSW Energy to enter capital market soon

JSW Energy proposes to enter the capital market with an initial public offering (IPO) to raise nearly Rs 3,000 crore in the near future. - Escape routes - Pipavav Shipyard has a mute listing - Ganesh Jewellery to raise Rs 300 cr through IPO - JSW Energy lifeline for Bengal project - JSW to ride on energy project in Bengal for steel plant - Indiabulls fixes Rs 40-45 band for IPO Talking to media persons here today, Krishna Deshika, Joint Group CFO of JSW Energy, said Rs 2,134 crore from the IPO proceeds would be infused in the company, while the rest would be used to clear loans. The total investment in the power projects under construction and implementation by the company has been pegged at around Rs 14,048 crore, of which Rs 9,979 crore is expected to be funded through debt, he said. He said the company recently commissioned a 600 Mw power plant in Vijayanagar, Karnataka and a 135 MW plant in Barmer, Rajasthan. With the recent addition of 735 MW, the company now has a 995 Mw generating capacity. JSW Energy"s power generation capacity is likely to go up to 3,140 MW by April 2011 and 11,390 Mw by September 2015. The new plants will be located in Karnataka, West Bengal, Jharkhand, Rajasthan, Maharashtra, Himachal Pradesh, and Chhattisgarh, Deshika said. JSW Energy has entered into a joint venture with Chennai-based Toshiba Corp for making turbines for 3,000 Mw plant and the work on it will start by December. The total investment in the JV is about Rs 1000 crore out of which JSW will invest Rs 250 crore, he added. JSW Group is in steel, energy, aluminium, infrastructure and cement businesses. JSW Aluminium is setting up a 1.4 mtpa aluminium refinery project in Vizianagaram district, Andhra Pradesh, with an investment Rs 4,400 crore. Bauxite required for the project will be supplied by Andhra Pradesh Mineral Development Corporation (APMDC), he said. Group is setting up 5.2 mtpa cement plant, of which 3.1 mtpa will be in Nandyal, Andhra Pradesh, and 2.1 mtpa in Vijayanagar, Karnataka, he added.


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