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EESL may go for an IPO to raise `200 cr

EESL may go for an IPO to raise `200 cr
State-run Energy Efficiency Services Limited (EESL) may go for an IPO to raise about Rs 200 crore by diluting 20 per cent stake before the end of this current financial year, a top official of the company said on Wednesday.

The company is also planning to invest Rs 6,000 crore as capex comprising Rs 1,200 crore equity and Rs 4,800 crore debt during the current year, EESL's Managing Director Saurabh Kumar said.

Kumar said the debt of Rs 4800 crore would be raised through various methods, including $100 million green/masala bonds from the UK market.

"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 said.

"Another Rs 200 crore we are looking at perhaps, and IPO towards the end of the financial year. We will dilute around 20 per cent stake. We expect some premium also. We are going to select a banker or a financial agency for the IPO in the next one month or so," he said.

EESL is a joint venture of NTPC Ltd, Power Finance Corp, Rural Electrification Corp and PowerGrid.
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