History
BGR Energy Systems (BGRESL) was originally incorporated in 1985. The company started as a joint venture between GEA Energietechnik GmbH, Germany and the promoter, Mr. B G Raghupathy, in order to produce and sell on-line condenser tube cleaning systems, debris filters and rubber cleaning balls used in thermal and nuclear power plants.
In 1993 Mr. B G Raghupathy and members of his family became the sole shareholders of the company and began to expand the range of product and services range in the power and oil & gas industries. On June 28, 2007, the company's name was changed from GEA Energy System (India), to BGR Energy Systems Limited.
BGR Energy carries on business in two segments, the Supply of systems and Equipments and Turnkey Engineering project contracting.
The company executes contracts to supply the Balance of Plant ('BOP'-a term coined by BGR Energy Systems Ltd in India) Equipment, Services and Civil works for Power Generation projects, in which it supplys, from a single source, the balance of the plant ('BOP'), i.e. items other than the boiler, turbine and generator (BTG). The company is currently executing BOP and EPC contracts tailored to customer's demands. It also has an infrastructure business intended to provide construction services and technology oriented projects to the infrastructure sector.
It got listed on January 3, 2008. The issue price was fixed at 480 per share. It was heavily oversubscribed 120 times according to NSE sources. The net proceeds of the issue was to augment long term working capital requirements, expand production capacity by establishing additional manufacturing facilities in India, China and the Middle East and fund expenditure for general corporate purposes.
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