NSL Group is diversified business group with presence across various sectors like Seeds, Cotton, Power, Textiles, Sugars and infrastructure. Mr. Mandava Prabhakar Rao is the Chairman of the Group. Flagship Company, Nuziveedu Seeds Private Limited is the largest seed company in India. Buoyed by the tremendous success in seeds business, NSL Group has widened its reach and diversified into other agro-based and allied industries.
Last month, NSL Sugars Limited an associate company of NSL Group announced commencement of generation of 28MW Cogen power plant and Ethanol Plant. The plant consists of 3500 Tonnes crushing per day (TCD) sugar unit besides 28 MW Cogen power plant and 45 Kilo liters per day (KLPD) capacity Fuel Grade Ethanol plant.
According to reports today, NSL Power Limited, part of the NSL (Nuziveedu Seeds Limited) Group, is looking at raising a Rs 250-crore private equity (PE) fund to fuel its thermal and renewable energy capacity expansion, said chairman and managing director M Prabhakar Rao.
“We are in discussion with five domestic PE companies who are keen to invest in our energy business. We expect the deal to crystalise by the end of this calendar year,” he told Business Standard on the sidelines of the recently-concluded BioAsia 2011.
NSL Power has about 100-megawatt (Mw) wind power capacity in Tamil Nadu and Karnataka. It is planning to set up wind farms with a capacity of 400Mw in various parts of the country, besides three hydro power plants with 155-Mw capacity in Himachal Pradesh.
As readers of Panchabuta might be aware, Nuziveedu Seeds Group, India’s largest seed company, and Everstone Capital are majority shareholders in ReGen Powertech a Wind Turbine manufacturer in Chennai, India. The promoter management led by Madhusudhan Khemka, an industry veteran in the wind energy space, also holds shares in the firm.
The Chennai-based ReGen’s revenue is estimated at around Rs 500 crore and has most recently raised $35mn from General Atlantic PE.