Bajaj Energy is one of the largest private-sector thermal generation companies in Uttar Pradesh. The company has a total gross installed capacity of 2,430MW, comprising 450 MW from five operational plants of 90 MW each, owned and managed by Bajaj Energy Limited (BEL) and 1,980 MW from the power plant owned and managed by Lalitpur Power Generation Company Limited (LPGCL). The company intends to raise Rs 5450 crores. The offer comprises of a fresh issue worth ₹5,150 crore and an offer-for-sale (OFS) of shares up to ₹300 crore by Bajaj Power Ventures. The proceeds of the issue to acquire the remaining 79.31% stake in LPGCL.