John Energy planning on a grand IPO

While 2016 continues to be a year for primary market players with several companies hitting the markets to raise growth capital, John Energy is one such company reported to be planning for an IPO as per media reports. John Energy Ltd., is an integrated oilfield services company.

What makes this particular IPO interesting is that the ace investor Rakesh Jhunjhunwala will get an exit opportunity once the IPO is launched. Sage Capital is another investor, a PE player that will get an exit opportunity.

John Energy Ltd., is based out of Ahmedabad and provides a bouquet of oil-field services such as drilling, providing skilled manpower and manufacture of drilling rigs for onshore oil and gas exploration and production(E&P).
 
The IPO size could be around Rs 250 crore as per media reports. The reports further confirmed Rakesh Jhunjhunwala has invested Rs 50 crore in the company in 2007. The ace investor’s investment was  followed by Sage Capital's investment of Rs 100 crore in 2010 in John Energy Ltd.

Rakesh Jhunjhunwala holds almost 19.06 per cent in the company; whereas Sage Capital has almost 16.29 per cent stake in John Energy Ltd.