See scope in modernising of 50 railway stations: GVK Power

Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See latest News about GVK Power See previous management interviews See what other Experts & Brokerages are saying about GVK Power GVK Power BSE | NSE 10/02/12 Are Mutual Funds betting on GVK Power?

 

Q: You said, a great deal of capital will be needed, you have found good takers for your QIP will you be on the front foot and start taking advantage of the market appetite for your paper? Do you have any fundraising plans anytime in the near future?

A: We have covered ourselves for the next 12 months comfortably without any problem and I don't think we will be coming back to the market to raise funds in the near future but going forward, depending upon our growth plans and if we are in a position to get some good projects then certainly we will have to come back to the market for raising more money, but our requirements are taken care of for the immediate future.

Q: Can you just update us on your financial closures, your projects etc, can you just walk us through what's the timeline looking like right now and as you comment on that, have you had any discussions with the railway board where we have some indication on what are the timelines, usually as people say with railways, it takes a long time before things get down than when the announcements are made?

A: Honestly, we haven't discussed anything with the Railway Board, we are waiting for things to pan out and as far as we are concerned, we will have to be a little patient because this is the first of the steps that the government had announced for the privatization of Railways, lets hope it goes fast and nicely. As far as our projects are concerned, there is one project which we are setting up in Punjab; it's a 540 Mw coal base thermal station, that project is slated for financial closure and hopefully if everything goes according to plan, we should have the financial closure by end of August, limited construction has already started, the promoters have pumped in equity for financial closure and the construction has already started, so that is something which is going to happen as far as the financial closure of our projects is concerned, but otherwise most of our projects are grounded and construction is going on in full stream.