New Delhi, Jun 19: KSK Energy Ventures, a subsidiary of Mauritius-based KSK Power Ventur Plc, will enter the capital market with a public issue of 3,46,11,000 equity shares of Rs 10 each through 100 per cent book building process.
The issue opens on June 23, in the price band Rs 240-255 per share. It closes on June 25. The offer constitutes 10 per cent of the post-issue share capital. The company is engaged in developing, operating and maintaining power plants. It has operational power plants with capacity of generating 144 MW of power and power projects under construction that are capable of generating an aggregate of 675 MW.
KSK Energy has entered into multiple power purchase agreements with captive consumers. The company has three power projects under development and five planned projects for an aggregate capacity of 8,318 MW.
The company will be investing part of the funds in Wardha Power Company, either directly or through KSK Electricity Financing, to finance the equity component of the 1,800 MW coal-based thermal power plant at Chhattisgrah.
KSK Energy has received Rs 415.34 crore in the pre-IPO placing of equity shares at Rs 240 per share, of which the company intends to use Rs 215.34 crore for funding the Wardha project.
Kotak Mahindra Capital, IDFC-SSKI, Morgan Stanley India, Lehman Brothers Securities and Edelweiss Capital are the book runners to the issue and Axis Bank is the Co-BRLM.