KSK to come out with public issue of 3,46,11,000 next week

Mumbai, June 19 (UNI) KSK Energy Ventures Limited will come out with public issue of 3,46,11,000 equity shares of 10 each, with price brand at Rs 240 to Rs 255 per equity in next week.

Addressing mediapersons Promoter of Company S Kishore said KSK energy limited is incorporated and registered in Mauritius and is a wholly-owned subsidiary of KSK power venture an Isle of Man incorporated entity listed on the London Stock Exchange's alternative investment market.

He said the Company proposes to utilise net proceeds of the issue to part fund its investment in Wardha Power Company Private Limited, either directly or through KSK electricity financing India private limited to fine the equity component of the 1,800 MW coal-based thermal plant at Chhattisgarh, KSK energy ventures limited has received an aggregate of Rs 415.34 crore pursuant to subscription of 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 Chattigarh project.

The issue will open on June 23 and close on June 25.

KSK energy ventures limited was established in 2001 to capitalise on the emerging opportunities in the Indian power sector and focus on developing, operating and maintaining power projects. KSK energy veuture has operational power plants capable of generating 144 MW of power and power projects under construction that are capable of generating an aggregate of 675 MW of power. The Company has three power projects under development and five planned projects for an aggregate capacity of 8,318 MW of power, he added.

UNI ST GR AG1459