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Private Equity | 16 September 2011

Ushdev International To Raise $20-40Mn For Buying Windfarms

by Charmi Gutka
Ushdev International To Raise $20-40Mn For Buying Windfarms
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Ushdev International is planning to raise $20-40Mn by diluting 10-20% stake to expand it's wind power business.

Ushdev is looking to buy out a bankrupt wind power company listed on London's Alternative Investment Market (AIM). The company has mandated ICICI Securities to bring in an equity partner for the acquisition. The acquisition will be done through it's wind energy arm - Ushdev Holdings Private Limited.

Ushdev International Operating Performance

(Rs Mn) 2011 2010 2009
Sales 32903.55 17494.45 13857.87
EBITDA 1478.98 785.14 640.26
PAT 439.62 272.58 215.16
Share Capital 294.26 294.26 276.26
Reserves 2730.21 2386.77 1656.98
Total Debt 3600.28 1572.19 760.63

Ushdev International on BSE

Ushdev International is India's one of the leading metal traders in the country. Others including state owned MMTC, Adani and Surana Group also operate in the wind power space. Currently, Ushdev International has 31MW of wind farms spread across five states. It intends to add another 100MW in next 10-12 months

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