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ShareMumbai: The JSW group may revive its initial public offering (IPO) plans for its two companies, JSW Cement and JSW Energy.
The group is reworking on draft red herring prospectuses (DRHPs) and may hit the market in a year, a group company official said.
JSW Energy is looking to raise Rs 5,000 crore from the stock market to fund its Rs 12,000 crore, 4000 mw power plant projects."Work on DRHPs is on and we may approach Securities and Exchange Board of India in a few months," the official, on the condition of anonymity told DNA.
However, Seshagiri Rao, joint managing director and group CFO, JSW Steel, said, "We don't want to hurry, and first want to see some IPOs going through the market successfully." He said that the sustainability has to be seen before going forward with the IPOs.
"Moreover, market dynamics are changing very fast. If you had asked me in May about IPOs, I would have said no way for the next three years. But now market has changed a lot," he said.
