KSK Power Ventures, a company listed on the AIM market of London Stock Exchange, today said its Indian subsidiary has raised Rs 415.34 crore through an pre-IPO placement.
KSK Power said its subsidiary KSK Energy Ventures, has successfully completed a pre-IPO placement of 1.73 crore equity shares at a price of Rs 240 per share, a company statement said.
The company has issued shares to six financial institutions including Macquarie Bank (UK), Tree Line Asia Master Fund, Infrastructure Development Finance Company, Axis Bank, Universities Superannuation Scheme, UK and GE Capital (Mauritius).
The two Indian entities IDFC and Axis Bank have invested Rs 75 crore and Rs 62.97 crore, respectively in the power projects firm.
Besides, Macquarie Bank has invested Rs 85.2 crore, Tree Line Asia Master Fund (Rs 85.99 crore), GE Capital (Rs 62.97 crore) and Universities Superannuation (Rs 43.2 cr).
KSK Energy was established in 2001 to capitalise on emerging opportunities in the Indian power sector and focus on developing, operating and maintaining power projects.
It has operational power plants capable of generating 144 MW of power, and it is currently constructing, developing or planning power projects capable of generating an aggregate of 8,993 MW of power.
Source: Economic Times