Date : Jan-07-2009
Great Eastern Energy Corporation has recently filed the draft red herring prospectus (DRHP) with Sebi for an IPO of 9.13 crore equity shares of Re 1 each for cash at a price to be determined through a 100% book-building process. The equity shares would then be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead managers to the Issue are Enam, ABN AMRO Asia Equities (India) and SBI Capital Markets. As per the company's release, the issue would constitute approximately 15.45% of the fully diluted post issue paid up capital of the company. Further its GDRs are also listed on the Alternative Investment Market of the London Stock Exchange. The company is engaged in exploration, development, production, distribution and sale of natural gas from coal seams, commonly known as CBM. It produces CBM from its Block in Raniganj, West Bengal that spans an aggregate area of 210 square kilometers and has an estimated 1.92 tcf of gas-in-place (according to a report issued by Netherland, Sewell & Associates, Inc. on June 1, 2007). After the completion of its pipelines, the company believes that it will be a fully vertically-integrated CBM company capable of exploring, producing, distributing and selling natural gas to end users through an integrated network consisting of drilling, production, compression, transportation and logistics services. To bring the plan into reality, the company has already signed a franchisee agreement for supply and retail of CBM-based CNG through Indian Oil Corporation's petrol pumps in Asansol, Durgapur, Raniganj and other cities across the state of West Bengal.
Great Eastern Energy Corporation has recently filed the draft red herring prospectus (DRHP) with Sebi for an IPO of 9.13 crore equity shares of Re 1 each for cash at a price to be determined through a 100% book-building process. The equity shares would then be listed on Bombay Stock Exchange and National Stock Exchange of India. The book running lead managers to the Issue are Enam, ABN AMRO Asia Equities (India) and SBI Capital Markets. As per the company's release, the issue would constitute approximately 15.45% of the fully diluted post issue paid up capital of the company. Further its GDRs are also listed on the Alternative Investment Market of the London Stock Exchange. The company is engaged in exploration, development, production, distribution and sale of natural gas from coal seams, commonly known as CBM. It produces CBM from its Block in Raniganj, West Bengal that spans an aggregate area of 210 square kilometers and has an estimated 1.92 tcf of gas-in-place (according to a report issued by Netherland, Sewell & Associates, Inc. on June 1, 2007). After the completion of its pipelines, the company believes that it will be a fully vertically-integrated CBM company capable of exploring, producing, distributing and selling natural gas to end users through an integrated network consisting of drilling, production, compression, transportation and logistics services. To bring the plan into reality, the company has already signed a franchisee agreement for supply and retail of CBM-based CNG through Indian Oil Corporation's petrol pumps in Asansol, Durgapur, Raniganj and other cities across the state of West Bengal.
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