EESL plans to issue IPO before end of March 2018
DSIJ Intelligence / 21 Jun 2017
EESL’s Managing Director Saurabh Kumar said that the company is also planning to invest Rs 6000 as capex which will include Rs 1200 crore equity and Rs 4800 debt during 2017.
A leading news agency reported that Energy Efficiency Services Limited (EESL), may go for an IPO to raise Rs 200 crore by diluting 20% stake before the end of March 2018, reported a leading news agency.
EESL was set up under the Ministry of Power to facilitate implementation of energy efficiency projects and is a joint venture of power Finance Corporation, NTPC Ltd, PowerGrid and Rural Electrification Corporation.
EESL’s Managing Director Saurabh Kumar said that the company is also planning to invest Rs 6000 as capex which will include Rs 1200 crore equity and Rs 4800 debt during 2017.
"Out of Rs 6,000 crore, Rs 1,200 crore will be our equity. Rs 4,800 crore is what we have to raise as debt. We have paid up capital of Rs 460 crore. Another Rs 530 crore will be raised from the promoters," Kumar told PTI.