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Fixes price band at Rs. 240-255 To invest in two power projects 
POWERING THE NATION: S. Kishore (left), Whole-time Director and promoter, KSK Energy Ventures, with S. Durgashankar, CFO, addressing a press conference in Mumbai on Wednesday. HYDERABAD: KSK Energy Ventures Limited, a wholly-owned subsidiary of KSK Power Venture plc, an Isle of Man incorporated entity listed on the London Stock Exchange’s Alternative Investment Market, proposes to enter the Indian capital market with a public issue of 5.19 crore equity shares of Rs. 10 each through the 100 per cent book building process. The issue opens on June 23 and closes on June 25. The company proposes to raise between Rs. 830 crore and Rs. 881.87 crore from the initial public offering (IPO). The price band has been fixed at Rs. 240-255. The company intends to utilise part of the net proceeds of the IPO for investment in Wardha Power Company (P) Ltd, a subsidiary, to finance the equity component of the 1,800 MW coal-based thermal power plant at Wardha, Chhattisgarh, according to a release. Besides, it will invest in KSK Dibbin Hydro Power Private Limited, a subsidiary, to finance the equity component of the 130 MW run-of-the-river hydro power plant at Dibbin, Arunachal Pradesh. The total cost of the Wardha Chhattisgarh project is estimated at Rs. 6,874 crore and that of the Dibbin project at Rs. 692 crore. KSK Energy Ventures has operational power plants capable of generating 144 MW of power, and it is at present constructing, developing or planning power projects capable of generating an aggregate of 8,993 MW of power.
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