Heard on the street: New projects light up KSK Energy
It is learnt that KSK Power Venture, the holding company of KSK Energy Ventures, currently listed on the AIM of the London Stock Exchange, has been allowed an entry into the main market segment of that bourse.
By ET Bureau |
New projects light up KSK Energy
Shares of KSK Energy Ventures rose 7% to close at Rs 178 on Monday. It is learnt that KSK Power Venture, the holding company of KSK Energy Ventures, currently listed on the Alternative Investment Market (AIM) of the London Stock Exchange, has been allowed an entry into the main market segment of that bourse. Prior to this, the company had managed to raise ��32 million (about Rs 239 crore) as additional capital from AIM, last week.
Capital proceeds ��� as per the prospectus issued to investors ��� will be utilised to fund power projects in India. The funds will be routed through Indian subsidiary KSK Energy Ventures to various projects in India.
The company has two ���work-in-progress��� power projects ��� ���VS Lignite���, a 135 MW lignite-based power project in Rajasthan which is scheduled to be commissioned in August 2009 and ���Wardha���, a 540 MW coal-based power project in Maharashtra which is scheduled to be commissioned in March 2010.
Contributed by Shailesh Menon
Shares of KSK Energy Ventures rose 7% to close at Rs 178 on Monday. It is learnt that KSK Power Venture, the holding company of KSK Energy Ventures, currently listed on the Alternative Investment Market (AIM) of the London Stock Exchange, has been allowed an entry into the main market segment of that bourse. Prior to this, the company had managed to raise ��32 million (about Rs 239 crore) as additional capital from AIM, last week.
Capital proceeds ��� as per the prospectus issued to investors ��� will be utilised to fund power projects in India. The funds will be routed through Indian subsidiary KSK Energy Ventures to various projects in India.
The company has two ���work-in-progress��� power projects ��� ���VS Lignite���, a 135 MW lignite-based power project in Rajasthan which is scheduled to be commissioned in August 2009 and ���Wardha���, a 540 MW coal-based power project in Maharashtra which is scheduled to be commissioned in March 2010.
Contributed by Shailesh Menon
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