Receives bids for 3.26 crore shares
The initial public issue of KSK Energy Ventures on Monday, 23 June 2008 got subscribed 0.94 times. The issue received bids for 3.26 crore shares as against 3.46 crore shares on offer. (As at 16:00 IST)
The price band for the IPO has been fixed between Rs 240 - Rs 255 per share. The issue will close on 25 June 2008.
The company had successfully completed the pre-IPO placement of 1.73 crore equity shares at a price of Rs 240 per share, thus raising over Rs 415 crore.
KSK Energy was established in 2001 to capitalise on emerging opportunities in the Indian power sector and focus on developing, operating and maintaining power projects.
It has operational power plants capable of generating 144 megawatts (MW) of power, and it is currently constructing, developing or planning power projects capable of generating an aggregate of 8,993 MW of power.
The Hyderabad-based firm plans to raise up to Rs 882 crore to part finance its investment in the SPV Wardha Power Company for the 1,800 MW coal-based thermal power plant in Chattisgarh.
Source: Capitalmarket.com
Monday, June 23, 2008
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