The Indian IPP aims to raise $250 million to $300 million if it decides to move forward with an IPO in India, reported Livemint, citing anonymous sources. The company raised about $80 million when it listed shares on AIM in late 2010.
However, Mytrah currently has a market capitalization of just $56.76 million. Its shares closed down 11.6% on Wednesday in London at GBP 23.75.
Last month, the Hyderabad-based company issued about $277 million of non-convertible debentures to Piramal Group. It used the proceeds to buy out other investors, including Goldman Sachs and Merrill Lynch.
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By the end of June, the developer’s total installed solar and wind capacity stood at roughly 1.18 GW. It had about 563 MW of additional renewables capacity under construction.
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