KSK Energy Ventures settled at Rs 190.50 on BSE, a discount of 20.62% over the initial public offer price of Rs 240.

The stock hit a high of Rs 234.80 and a low of Rs 176. On BSE, 99.26 lakh shares changed hands on the KSK Energy Ventures counter. The stock debuted at Rs 220, a discount of 8.33% over the initial public offer (IPO) price.

The current price of Rs 190.50 discounts the company's year ended March 2008 (FY 2008) earnings per share (EPS) of Rs 3.3, by a price earning (PE) multiple of 57.72.

The KSK Energy IPO had ended on 25 June 2008 with 1.50 times subscription. The IPO received bids for 5.20 crore shares as against 3.46 crore shares on offer. The qualified institutional buyers category was subscribed 2.21 times and the non-institutional investors portion was subscribed 1.08 times. However, the retail portion remained undersubscribed at 0.22 times.

The company had priced the IPO at the lower end of the Rs 240 - Rs 255 per share price band. Earlier, the company had completed a pre-IPO placement of 1.73 crore equity shares at a price of Rs 240 per share, thus raising over Rs 415 crore.

KSK Energy was established in 2001 to capitalise on emerging opportunities in the Indian power sector and focus on developing, operating and maintaining power projects.

It has operational power plants capable of generating 144 megawatts (MW) of power, and it is currently constructing, developing or planning power projects capable of generating an aggregate of 8,993 MW of power.

The company reported a profit after tax of Rs 108.65 crore on sales of Rs 239.13 crore in FY 2008.

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