India: Energy Efficiency Services plans IPO after foray into UK market

India: Energy Efficiency Services plans IPO after foray into UK market

India’s state-backed Energy Efficiency Services Ltd is considering an initial public offering as part of a plan to bring its power-savings business model to new markets including the UK.

EESL could launch its IPO as soon as the December quarter, after a planned September issue of $100 million in masala and dollar bonds in the UK, managing director Saurabh Kumar said in an interview with Bloomberg.

The company doubled revenue to Rs1,400 crore ($217 million) in the fiscal year ended 31 March and will release full financial results next month, he said.
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Credit- Deal Street Asia

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