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%.

KSK Energy Ventures management said the agreement with GMDC on coal sourcing is absolutely clear and there's no element of doubt. He sees no problem in maintaining IRR despite rising interest rates.

Kishore added that the next round of funding depends on the timing and market conditions.