Power sector IPOs that are lined up

Like the realtors, the power merchants are back, and they're in a hurry to cash in on the positive sentiment prevailing in the stock markets. We are talking about the flurry of power sector IPOs that are lined up after the successful completion of those of Adani Power and NHPC. JSW Energy, promoted by Mumbai-based JSW Steel, for instance plans to raise around Rs 30 bn through an IPO soon. We'll soon see more such players, with or without any experience in running power plants, offering shares to the public.

Data Source: CMIE Prowess
Valuations of power stocks in general are back to being fairly to expensively valued (though still much lower than what these were in January 2008), given that stocks are trading in a range of nearly 20 to 30 times their trailing 12-month earnings. But if investment bankers are to be believed, power companies that are likely to come out with IPOs in the near term will be able to sell shares even at these high valuations as the 'opportunity out there is big'!

Isn't this what we heard in January 2008 as well (before Reliance Power's IPO)?