CESC to raise $150 million through private placement

Power utility company CESC has received its board’s approval to raise $150 million through private placement. The company may raise the money through equity shares, fully convertible debentures, partly convertible debentures, non-convertible debentures with warrants or any other securities (collectively referred to as QIP securities) “on a private placement basis”. The company’s board gave the approval for the same at its meeting held on September 22, 2014.

CESC is engaged in power generation and distribution in state of West Bengal. CESC is a fully integrated power utility with its operation spanning the entire value chain: right from mining coal, generating power, distribution of power.