KSK Energy Ventures lists below issue price

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KSK Energy Ventures lists below issue price

KSK Energy Ventures, a company with experience in developing and operating power plants, listed at Rs 210.05 on the NSE against the issue price of Rs 240 at a discount of 12.48%.

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KSK Energy Vent BSE | NSE 25/05/12 Are Mutual Funds betting on KSK Energy Vent?

KSK Energy Ventures , a company with experience in developing and operating power plants, listed at Rs 210.05 on the NSE against the issue price of Rs 240 at a discount of 12.48%.

At  9.55 am the share was trading at Rs 216 on the NSE. The share touched an intraday high of Rs 234.80 and an intraday low of Rs 210.05 . The Total traded quantity was 1,34,849 shares and turnover was Rs 290.84 lakh.

On the BSE the share opened at Rs 220 and touched an intraday high of Rs 234.80  and an intraday low of Rs 205.10.

KSK Energy Ventures had entered capital market with a public issue of 3,46,11,000 shares and was subscribed 1.5 times.

The company proposed to utilize the net proceeds of the Issue to part fund its investment in Wardha Power Co. Pvt Ltd, either directly, or through KSK Electricity Financing India Pvt Ltd, to finance the equity component of the 1,800 MW coal-based thermal power plant at Chhattisgarh. KSK Energy Ventures Limited has received an aggregate of  Rs. 415.34 crore pursuant to subscription in the Pre-IPO placing of Equity Shares at Rs 240 per share , of which the company intends to use Rs 215.34 crore for funding the Wardha Chattisgarh Project.