IL&FS Investment Managers May Invest $100 Mn In KVK Energy
IL&FS Investment Managers Ltd may invest $100 Mn in Hyderabad-based KVK Energy And Infrastructure Pvt Ltd to part-fund its new and upcoming power projects.
KVK Energy & Infrastructure, with interests in power projects, is the holding arm of KVK Group.
Transaction Reference: Business Standard
KVK Energy had earlier raised Rs.196 Cr from Citigroup’s hedge fund - Old Lane Mauritius III Ltd.
|Month/Year||Type||Amount (Rs. Cr)|
Oldlane had invested in 2007 at Rs.32 per share, while CCPs and CCDs of 2007 were converted into equity shares in 2009 at Rs.136.14 per share.
In 2006, Small Is Beautiful Fund had invested Rs.34 Cr in KVK by subscribing to optionally CCPS, towards investment in one of KVK’s SPV, SV Power Pvt Ltd for its proposed 2x56 MW coal washery rejects power plant in Chattisgarh. CCPS were later redeemed in 2007.
In 2006, KVK Energy bought the holdings of Maruti Finance Pvt Ltd’s in various power geneartion companies, for 31.84 Cr – Rs. 15 Cr by way of issue of equity shares and Rs.16.84 Cr in cash. The holdings include – RVK Energy Pvt Ltd, Kasrgod Power Corporation Ltd, MMS Steel and Power Pvt Ltd, KVK Bio-Energy Pvt Ltd, SV Power Pvt Ltd, Lanco Amarakantak Power Pvt Ltd, KVK Nilachal Power Pvt Ltd and MVK Energy Pvt Ltd.
Maruti Finance Ltd has made a total investment of Rs.37.5 Cr in the company.
KVK Energy has four operational projects with a total capacity of 70 MW and is setting up additional five projects with a total capacity of about 1,550 MW. Here’s the list of it’s power projects:
|RVK Energy||Andhra Pradesh||6 MW (Capacity of gas came down from 21 MW, due to lack of gas availability)|
|Kasargod Power||Kerala||21 MW|
|MMS Steel and Power||Tamil Nadu||28 MW|
|KVK Bio Energy||Chhattisgarh||15 MW|
|Projects Under Implementation|
|RVK Energy||Andhra Pradesh||50 MW|
|SV Power, Phase I||Chattisgarh||63 MW||Rs.345 Cr (Debt-equity ratio of 71:29)|
|KVK Nilachal Power, Phase I||Orissa||1X350 MW||Rs.1,350 Cr (Debt-Equity ratio of 80:20)|
|KVK Nilachal Power, Phase II||Orissa||2X350 MW||Rs.3,400 Cr (Debt-Equity ratio of 75:25)|
|Nagai Power||Tamil Nadu||2x150 MW||Rs.1,440 Cr (Debt-Equity ratio of 75:35)|
|Projects Under Development|
|SV Power, Phase II||Chattisgarh||2X150 MW||Rs.1500 Cr (75:25 Debt-Equity)|
|KVK Par Power||Arunachal Pradesh||65 MW|
|KVK Dardu Hydro Energy||Arunachal Pradesh||60 MW|
|Banas Thermal Power||Madhya Pradesh||1050 MW|
|KVK Power & Infrastructure||Chattisgarh||1200 MW|
|KVK Nilachal||Jharkhand||1000 MW|
KVK has recently signed a JV with Midwest Holdings Ltd to explore and develop a coal mine project in Mozambique and with Advaita for developing coal assets in Indonesia.
In 2008, KVK Group had planned to raise $100 Mn through a Mauritius based entity S&S Infrastructure, which inturn was to float an IPO at AIM. S&S Infra was to invest Rs.137.9 Cr for 70.34% stake in KVK and an additional Rs.262 Cr through either convertible debentures or preference shares. But, due to adverse global markets, S&S Infra could not float the issue. As a result, the Rs.400 Cr fund infusion from S&S in KVK, did not materialise.
This will be IL&FS' second investment in the power generation space. It had earlier invested in Hyderabad-based Konaseema Gas Power Ltd (KGPL), through its India Project Development Fund.
Some PE deals this year in the power generation space include.
|July'11||Visa Power Ltd||Blacstone||111|
|May'11||Diligent Power Pvt Ltd||Warburg Pincus||150|
|Mar'11||Ind-Barath Energy (Utkal) Ltd||3i India Infrastructure Fund||45|
|Jan'11||MB Power (Madhya Pradesh) Limited||Macquarie SBI Infrastructure Fund||130|
Following power generation companies have planned for PE Funding
|Universal Crescent Power Pvt Ltd||225|
|Monnet Power Company Ltd||293|
|Simhapuri Energy Pvt Ltd||110|
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|2011-08-17||KVK Energy - IL&FS Investment Managers||Private Equity||
IL&FS Investment Managers Limited
|2009-03-20||KVK Energy - Old Lane India Round 2||Private Equity||
Old Lane Mauritius III
|2007-11-01||KVK Energy - Small Is Beautiful||Venture Capital||
KVK Energy And Infrastructure Private Limited
|2007-10-11||KVK Energy - Old Lane India (Round 1)||Private Equity||
Old Lane Mauritius III
|2006-10-30||KVK Energy - Small Is Beautiful||Venture Capital||
Small Is Beautiful Fund (SIB)
|02/05/2013||Private Equity||Asian Development Bank||NSL Renewable Power Private Limited||30.00||Completed|
|30/04/2013||Private Equity||DEG - Deutsche Investitions und Entwicklungsgesellschaft mbH||NSL Renewable Power Private Limited||60.00||Completed|
|23/01/2013||Private Equity||UTI Ventures Limited||Bharat Light And Power Private Limited||18.69||Completed|
|08/08/2012||Private Equity||Standard Chartered PLC||Green Infra Limited||-||Completed|
|IL&FS Investment Managers Limited|| BFSI
|www.ilfsinvestmentmanagers.com||Vipin AgarwalSaleh AfimiwallaRumen BarjatyaRuchita ManiarDeepa SankaranSuneet GuptaArchana Niranjan HingoraniAlok BhargavaShahzaad DalalManoj BorkarMark A SilgardoSanjay MitraSunil Vasantrao DiwakarBina TrivediSrinivas BaratamAnant Kulkarni|
|IL&FS Investment Managers Limited|
|KVK Energy And Infrastructure Private Limited||KVK Group||6-3-1109/A/1,3rd Floor, Navabharat Chambers, Raj Bhavan Road, Somajiguda||www.kvkenergy.com|
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