KSK Energy Ventures completes $67.5M QIP

KSK Energy Ventures Limited, the Indian unit of London Stock Exchange-listed power project firm KSK Power Ventur Plc, which raised Rs 400 crore (around $67.5 million) through a qualified institutional placement (QIP) last week, has allotted 40.4 million equity shares at a price of Rs 99 each, according to a stock market disclosure.

Earlier last month, the company had notified the stock exchanges that it is planning to raise up to Rs 1,000 crore ($166 million) through an allotment of securities to qualified institutional investors.

KSK Energy Ventures’ scrip was quoting at Rs 112.30 a share, down around 3.61 per cent on the Bombay Stock Exchange in the mid-day trading on Tuesday.

Founded in 2001, KSK Energy Ventures is engaged in the development, operation and maintenance of power plants in India. The firm operates through two segments—project development and power generation.

KSK as a group had previously got funding from Lehman Brothers. Entities affiliated to the former financial services giant still own around 7 per cent stake in KSK Energy Ventures.

(Edited by Joby Puthuparampil Johnson)

Leave Your Comment(s)