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Last Updated : Jul 11, 2011 03:25 PM IST | Source: CNBC-TV18

Urja Global plans to raise Rs 2000cr this fiscal

S Venkita Subhramoni, managing director of Urja Global in an interview with CNBC-TV18 said that the company is looking to raise Rs 2,000 crore in this financial year. It would be raising 70% of funds from the debt market and 30% from equity market.


Urja Global's board has approved warrant allotment of about 5 crore warrants to promoters and strategic investors.


S Venkita Subhramoni, managing director of Urja Global in an interview with CNBC-TV18 said that the company is looking to raise Rs 2,000 crore in this financial year. It would be raising 70% of funds from the debt market and 30% from equity market. 


"We are not looking at equity dilution but will raise funds through loan against shares," he added.


The company is also looking to raise Rs 600 crore via Follow-on-Public-Offer (FPO).


Below is the verbatim transcript of his interview with Reema Tendulkar and Gautam Broker of CNBC-TV18. Also watch the accompanying video. 


Q: First could you tell us with this allotment of 5 crore warrants, which can be converted into equity? What is the kind of dilution you all will face?


A: We are not going in for dilution. We would be raising funds through loan against shares.


Q: We understand part of it is going to promoters and the other half to strategic investors, could you give us the break-up of these 5 crore warrants?


A: The total fund requirement is Rs 2,000 crore in this financial year itself for various power, solar, hydro and thermal power projects. 

Q: Your market cap is just about Rs 170 crore, a fund raising plan of Rs 2,000 crore, doesn

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First Published on Jul 11, 2011 02:37 pm
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