The IPO of KSK Energy Ventures Ltd was subscribed 1.5 times reflecting investor confidence in the company, despite the turbulent market conditions, as per data available on NSE till 5.30 PM on Monday, the last day of the issue.
Mumbai, Maharashtra, India, June 26, 2008 (PRESSbooth.ORG) -- The Company had entered the capital markets on 23rd June 2008 with a public issue of 34.61 million Equity shares of Rs 10 each in the price band of Rs 240 to Rs 255 per equity shares. The QIB portion was fully subscribed within half an hour of the opening of the issue. Overall, it was fully subscribed on the second day itself. The Issue will constitute 10% of the post-issue equity share capital of the Company.
The company with experience in developing and operating power plants, proposes to utilize the net proceeds of the Issue to part fund its investment in Wardha Power Co. Pvt Ltd, to finance the equity component of the 1,800 MW coal-based thermal power plant atChhattisgarh. Kotak Mahindra Capital Company Ltd, IDFC-SSKI Pvt Ltd, Morgan Stanley India Company. Pvt Ltd, Lehman Brothers Securities Pvt Ltd and Edelweiss Capital Ltd are the BRLMs for the Issue and Axis Bank Ltd is the Co-BRLM for the Issue.
About KSK Energy Ventures:
KSK Energy Ventures was established in 2001 to capitalize on the emerging opportunities in the Indian power sector and focus on developing, operating and maintaining power projects. The promoter company, KSK Energy Ltd is incorporated and registered in Mauritius, and is a wholly-owned subsidiary of KSK Power Ventures plc, an Isle of Man incorporated entity listed on the London Stock Exchange's Alternative Investment Market.
Contact:
B N Kumar
Concept PR
93210 48332
93200 48332
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