BF Utilities has received an approval to raise long term funds by way of issue of securities on Rights basis, Preferential Allotment basis, Qualified Institutional Placement (QIP) basis or such other form as may be permissible under law, for an amount up to Rs 500 crore. The board of directors at its meeting held on May 17, 2014 has approved for the same.
BF Utilities is engaged in power generation through wind mill technology. The company was set up to satiate the power requirements of the Kalyani Group companies, which have business interests in areas of steel making, forging, machining, etc.
