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EESL Plans An IPO Issue To Fund Its Energy Efficiency Programmes

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State-run Energy Efficiency Services Ltd (EESL) will hit the primary markets to mop up capital to fund its energy efficiency programmes that include leasing electric vehicles to companies as well as deploying smart meters for measuring power utility.

EESL Plans An IPO Issue To Fund Its Energy Efficiency Programmes
 

The company which is a joint venture among 4 state-run entities owns NTPC, Rural Electrification Corp. Ltd, Power Finance Corp. Ltd (PFC) and Power Grid Corp. of India Ltd

"I have a capital expenditure requirement of around ₹25,000 crore over the next 3-4 years," Saurabh Kumar, managing director of EESL said in an interview. "While it is one thing that I keep on going back to NTPC and PFC, but they have their own capex plans. We will look at it (listing) next year and then we will decide when to do it."

The company in a mission to reduce the country's carbon emissions is ambitious on its energy efficiency initiatives. According to the company's MD, the company is likely to hit a profit figure of around Rs. 200 crore this year.

GoodReturns.in

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