Author Topic: EPQL -- Engro Powergen Qadirpur Ltd  (Read 60421 times)

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Offline SBM

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EPQL -- Engro Powergen Qadirpur Ltd
« Reply #-1 on: May 09, 2014, 04:09:01 PM »
all about Engro Powergen
« Last Edit: September 16, 2014, 11:25:12 PM by M&M »
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EPQL -- Engro Powergen Qadirpur Ltd
« Reply #-1 on: May 09, 2014, 04:09:01 PM »

Offline SBM

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Re: Engro Powergen Qadirpur Ltd
« on: May 09, 2014, 04:10:27 PM »
Applied for listing around 4th of April. Prospectus cleared by exchange on the 7th of May 2014
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Offline SBM

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Re: Engro Powergen Qadirpur Ltd
« Reply #1 on: May 09, 2014, 04:12:00 PM »
Unique Feature Design

1. Flare-Gas

Engro Powergen Qadirpur Limited (EPQL) power plant is a 217.3 MW combined cycle power plant and utilizes “Permeate Gas” as primary fuel. High Speed Diesel (HSD) is used as backup fuel.

The gas being supplied to EPQL power plant i.e. Permeate Gas, is a reject gas produced in the membrane based sweetening plant of OGDCL, Qadirpur gas field. Permeate gas has high sulfur content (up to 320 ppm H2S) and low heating value, and therefore not suitable for domestic or industrial consumers. Owing to this reason, this gas was being flared (burned) and wasted to atmosphere at the source gas field.EPQL power plant has special design considerations to utilize this high sulfur and low heat content gas.

2. Gas/Diesel

The EPQL power plant has dual fuel capability i.e. uses permeate gas as base fuel and high speed diesel as backup fuel. The plant also has the capability to operate with both fuels mixed.

3. Burners & Capacity

The plant is a 1+1+1 combined cycle configuration with frame 9E gas turbine and has the unique feature of additional burners in the HRSG (Heat Recovery Steam Generator). The HRSG and steam turbine for this plant is therefore double in capacity compared to a normal 1+1+1 frame 9E combined cycle. This plant is one of very few plants in the world with this unique design feature.

4. Compliant with World Bank Standard with the kind of challenging fuel & technology

Despite the unique and complicated fuels and equipment, the plant has been designed to comply with the World Bank and NEQS environmental emission standards.

5. Merit Order

Due to the cheaper and affordable thermal power, EPQL power plant stands amongst the top 10 in the order of dispatch by NPCC.
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Offline drkhan1969

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Re: Engro Powergen Qadirpur Ltd
« Reply #2 on: May 09, 2014, 04:38:02 PM »
When the IPO is expected :s1:

Offline Alpha

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Re: Engro Powergen Qadirpur Ltd
« Reply #3 on: May 09, 2014, 09:28:14 PM »

For MR.SBM  :biggthumpup:

Offline sAr

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Re: Engro Powergen Qadirpur Ltd
« Reply #4 on: May 09, 2014, 11:35:00 PM »
So they have Uninterrupted Supply of Permeate Gas around most of the time?

Seems interesting. I guess it will come at hefty premium! Lets see.

Offline AlK

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Re: Engro Powergen Qadirpur Ltd
« Reply #5 on: May 11, 2014, 01:22:20 AM »
They enjoy certain advantages over others.

1. The gas being given to them is a flare gas, so they will keep getting this gas as long as qadirpur gas field is working.
2. Due to low cost, it has a higher dispatch rate.


Offline Ali135

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Re: Engro Powergen Qadirpur Ltd
« Reply #6 on: May 11, 2014, 05:38:37 AM »
Engro Powergen Limited owns and operates Engro Powergen Qadirpur Limited, a 220 megawatt power plant and the group’s first initiative in the power sector of Pakistan, which is 10% directly owned by the holding company and 84% via Engro Powergen. The remainder is owned by the International Finance Corporation (IFC) and employees.
In 2010, Engro Powergen entered into a joint venture with the Sindh government, to establish the Sindh Engro Coal Mining Company Limited, to mine coal from Thar Block-II. A wholly owned subsidiary, Thar Power Company (THARCO) was incorporated with the objective of developing power plants based on Thar coal.

http://www.engro.com/our-businesses/engro-power-gen-limited/

Offline Farzooq

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Re: Engro Powergen Qadirpur Ltd
« Reply #7 on: May 17, 2014, 07:06:57 PM »
Engro PowerGen  revenue 8,665  pat 1,458
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Offline tariqhafeez

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Re: Engro Powergen Qadirpur Ltd
« Reply #8 on: May 17, 2014, 07:22:58 PM »
It will be good stock to own due to the reason it operates at very high load factor due to cheaper fuel.  Excellent addition to power sector ipps listed at kse.

Offline tariqhafeez

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Re: Engro Powergen Qadirpur Ltd
« Reply #9 on: May 17, 2014, 07:29:25 PM »
2013 Business Results


In June, the entire overdue receivables of PKR 9 billion outstanding at the beginning of
June 2013 were paid by PEPCO as part of a bailout for power sector. Accordingly the
Company also settled its outstanding payable to SNGPL of PKR 5.4 billion.

The plant successfully completed a turnaround in 2013 which was the most extensive
and complex since COD. The exercise was completed before planned time.

The main reason for the lower profitability was the complete plant
outage on 12th Oct
due to a
fault in gas turbine generator rotor. The plant was successfully brought online
after 76 days, and has been operating normally since December 27.

Intensive
follow
-
up for recovery of overdue receivables with PEPCO resulted in a total
receipt of
Rs
. 2.2 b during plant outage of 76
days

Overdue
receivables as of Dec 31 stand at Rs.1.2b including delayed interest charges of
Rs
. 0.7
b

In August,
Engro
Powergen
Qadirpur
gave a bumper dividend due to clearance of
circular debt bringing total YTD dividend paid to
Rs.2.7b

Engro
Powergen
made its first overseas investment in a 72MW CPP.

Offline Farzooq

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Re: Engro Powergen Qadirpur Ltd
« Reply #10 on: May 19, 2014, 09:51:39 AM »
Dear All,

 

As you all know that we were selected by Engro Corporation as Book Builder for EPQL “Engro Powergen Qadirpur Limited” book building. The book building will most probably take place in last week of May and will engage our staff at Karachi – Head office along with Lahore and Islamabad branches.

 

Detailed below are the procedures, rules and execution plan. Kindly go through it and call us for any clarification.       

 

Procedure for Bidding

There are three types of Bids:

1.    Limit Order: Order with specific price

2.    Strike Order: Bid for a specific number of shares at any price

3.    Step Order: A series of limit bids at increasing price (each step bid should not be less than Rs.250,000)

 

The method and process of bidding shall be subject to the following:

·         Quantity of any type of bid should not result in decimal

·         The total bid amount should be not be less than the instrument amount

·         Provided that the minimum size of a limit bid shall be Rs. 1,000,000 and in case of a step bid, the amount of any step shall not be less than Rs. 250,000/-

·         The investors shall place their first bids through Book Runner who shall vet the bid forms

·         The investors shall have the right to revise or withdraw their bids during the bidding period

·         The investors shall not make more than one bids

·         The Book Runner shall collect an amount to the extent of 100% of the application money as margin money in respect of bids placed by HNWI

·         The Book Runner shall collect an amount of not less than 25% of the application money as margin money in respect of bids placed by institutional investors

·         Book Runner may reject a bid placed by an institutional investors and/or HNWI for reasons to be recorded in writing and the reasons should be disclosed to such bidder forthwith. Decision of Book Runner shall not be challengeable by the bidder or its associates

·         BR shall not accept any bid after 5:00 p.m. during the days of the bidding period, except the last day when no fresh bid(s) shall be collected after 5:00 p.m. and the bid(s) collected thus far, shall be required to be entered into the System by 7:00 p.m. on the same day and thereafter no bid shall be entered into the system or be revised in any way and for any reason even if the bid application has been received from the investors.

 

KASB has planned to revolutionize the Book Building process by introducing e-form for the purpose of filling the bidding form. We have developed a web based application through which investor can type in minimum information on the e-form and take print out of filled bidding form for onward submission to Book Builder (KASB).

 

Advantages

·         Reduced time to fill out forms as clicking is faster than writing and customized application will allow investor to seamlessly select and fill the details

·         Neat and clear filled out form  

·         Validated and guided selection prevent errors and provide accurate data

·         Easy accessibility as distribution via web access is easy

·         Good impression to investors, The participants to this bidding will be high net worth individuals and institutions.

 

How the process works

·         Investor will go to our web site www.kasb.com and press the link to EQPL book building which is placed on the right side after which the main page of book building will open

·         The page contains details regarding procedure to fill the form, required documentation, procedure of form submission, forms download for manual filling and all other important details

·         Investor will press the e-form icon which is placed on left side to fill the e-form

·         The  information will be filled step by step and after filling complete information investor will press the SUBMIT button on which the Bidding form will open in pdf format with completely and accurately filled information

·         Investor will print two sets of the document and after affixing of signatures (one at the bottom of each page), the form will be submitted with KASB offices along with requisite documents

·         The data will be saved in database along with reference number. On receiving the physical form from investor, we will verify the details and may auto upload the saved data on KSE application, so no re-typing will be required.

 

Receiving bidding application - Check list for Documentation

·         Bidding Form

o    All fields are mandatory except fax number

o    All details should be properly filled and synchronized with CNIC and Payment instrument

o    Check CDC account details

o    Bid details should be carefully checked as this part is the most problematic

o    Signature of bidder (one each on both pages)

o    Duplicate bidding form should match with bidding form

 

·         Copy of CNIC

o    Copy should be clear and valid wrt to expiry date

o    Bidder Name and CNIC number should match with details provided on bidding form

 

·         Payment Instrument

o    Instruments acceptable are Pay Order, Demand Draft and Cheques

o    Instrument should match with details provided on bidding form

o    Instrument should be in favor of “OFFER FOR SALE OF SHARES OF EPQL – BOOK BUILDING”

o    Check amount with reference to margin per%

o    Cheque will not be acceptable on last bidding day

o    Post dated cheques are not acceptable

o    Third party cheques are not acceptable

o    In case of Intercity instruments and pay order “Payable at any branch” will be accepted

 

Procedure of Entertaining Bidders (Head Office – Karachi)

·         Support Desk

o    Place support desks at 5th floor to receive bidders and check documentation (both conference rooms will be occupied for this purpose)

 

·         Sitting arrangement in view of following points

o    As per experience of HASCOL Book Building: 1,200 applications received by AKD within two bidding days, so we should expect approx. 1,500 applications 

o    The process of receiving single application may take around 10-15 minutes

 

·         Receipt of Bidding form

o    Bidder will come at 5th floor and will be received at reception by our representative

o    Representative will issue token to bidder and ask him to sit in waiting area

o    Representative will forward documents along with duplicate token to support desk

o    Support desk will review the documentation and if found ok then affix stamp along with time and provide receiving copy to bidder

 

·         Use of Stamps (one set each for Khi, Lhr & Isl)

 



 

o    Bidding Form Received: will be affixed to bidding forms after reviewing and receiving of correct form (is all aspects)  

o    Bid Accepted: will be affixed to bidding forms once bidding results are received  

o    Bid Rejected: will be affixed to bidding forms once bidding results are received

o    Bid Revised: will be affixed to revised bidding forms after reviewing and receiving of correct form (is all aspects)  

 

Next Steps

·         Account Creation of Bidder

o    Account will be created on KSE Book Building Web server for every application received. This process will take approx 10 to 15 minutes

o    Account details (user Id, password, and web link) will be instantly emailed to bidder at the provided email address

 

·         Entry of Bid on KSE website

o    Each bidding form will be entertain as per token issued (time is most important in this case)

o    The initial bid will be placed after creation of bidder’s account by Book Builder

 

·         Deposit of Payment instrument with bank

o    The payment instrument will had to be deposited with bank urgently, for this purpose we have to keep atleast 2 to 3 runners on standby

 

Process for Branches

·         Bidder will visit branch office and submit application along with required documentation

o    Representative will issue token to bidder and ask him to sit in waiting area

o    Representative will forward documents along with duplicate token to support desk

o    Support desk will review the documentation and if found ok then affix stamp along with time and provide receiving copy to bidder

 

·         Branch Officer will create account and place bid

o    Account will be created on KSE Book Building Web server for every application received

o    The initial bid will be placed after creation of bidder’s account by branch officer

 

·         Deposit of Payment instrument with bank

o    The payment instrument will be deposited with bank

 

·         Dispatch original applications to Head office

o    Branch officer will scan and email the application to head office

o    Branch officer will dispatch the original documents just after completion of bidding period

 

Reporting

·         Successful Bids

o    Report will be downloaded from KSE site and verified/reconcile with bidding form and payments

o    Letter will be send to all those institutions whose bids are accepted for payment of remaining amount

o    After receipt of payments from institutions the final data will be provided to FAMCO and Engro

 

·         Rejected Bids

o    Data will be provided to Bank and Engro to refund the unsuccessful bidders

o    We will receive payoders from bank within two days of close of bidding period

o    Payorders to respective clients/bidders will be dispatched through courier

o    Keep all the records at least for three years of receipt of payorders and dispatch slips etc.

 

Best Regards,

Profit 1.5b in 2013
2b in 2012
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Offline sumbul

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Re: Engro Powergen Qadirpur Ltd
« Reply #11 on: May 19, 2014, 11:59:21 AM »
Even the KASB Equity team is not aware about this transaction - where is the prospectus  :skeptic: I doubt it will come in last week of May

Offline SBM

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Re: Engro Powergen Qadirpur Ltd
« Reply #12 on: May 19, 2014, 12:04:57 PM »
Even the KASB Equity team is not aware about this transaction - where is the prospectus  :skeptic: I doubt it will come in last week of May

they are book builders how can they not know .. end may nahi tu early june ajae ga .. beychaini kyun hai itni apko ?
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Offline sumbul

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Re: Engro Powergen Qadirpur Ltd
« Reply #13 on: May 19, 2014, 12:49:54 PM »
Even the KASB Equity team is not aware about this transaction - where is the prospectus  :skeptic: I doubt it will come in last week of May

they are book builders how can they not know .. end may nahi tu early june ajae ga .. beychaini kyun hai itni apko ?

Now they have confirmed it is coming in either last week or first week of May - Base Price is 21

Offline hasnain0099

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Re: Engro Powergen Qadirpur Ltd
« Reply #14 on: May 19, 2014, 01:03:10 PM »
Even the KASB Equity team is not aware about this transaction - where is the prospectus  :skeptic: I doubt it will come in last week of May

they are book builders how can they not know .. end may nahi tu early june ajae ga .. beychaini kyun hai itni apko ?
Any chance of them going for IPO/SPO?
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Offline SBM

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Re: Engro Powergen Qadirpur Ltd
« Reply #15 on: May 19, 2014, 01:12:56 PM »
Even the KASB Equity team is not aware about this transaction - where is the prospectus  :skeptic: I doubt it will come in last week of May

they are book builders how can they not know .. end may nahi tu early june ajae ga .. beychaini kyun hai itni apko ?
Any chance of them going for IPO/SPO?

There wll be portion for public as well.
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Offline sumbul

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Re: Engro Powergen Qadirpur Ltd
« Reply #16 on: May 19, 2014, 02:11:15 PM »
I can't find its financials anywhere  :rtfm:

Offline sumbul

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Re: Engro Powergen Qadirpur Ltd
« Reply #17 on: May 19, 2014, 03:46:04 PM »
Engro earlier gave target of 26 May to KASB for book building. However, now the process has been delayed a bit. First the company will organize some road shows / issue prospectus then book building will take place. However, KASB Management is saying to its clients that it can come anytime after 26th May  :dunno:

Offline Hassan Munir

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Re: Engro Powergen Qadirpur Ltd
« Reply #18 on: May 20, 2014, 01:40:12 AM »
Waiting for financials and confirm date for book building , interested script.