According to reports, Renewable energy-based power generation company Ind Eco Ventures has filed draft red herring prospectus with market regulator for public issue of Rs 105 crore.
Company has wind energy power projects at Tamil Nadu and Karnataka. It has a total of 11.40 MW wind energy power projects in Tamil Nadu and Karnataka.
It is also into solar power generation and organic farming in its excess wind farm land.
It is planning to set up a 25 MW solar power in Gujarat in two phases. It is going to set up 5 MW solar project in Patan District, Gujarat at cost of Rs 90 crore. Company plans to increase its aggregate installed capacity of solar projects to 50 MW by 2015.
Company’s working capital requirement is of Rs 5 crore.
Ind Eco has reported profit after tax of Rs 92.28 lakh on total income of Rs 8.87 crore for the year ended March 31, 2011.
Saffron Capital Advisors Private Limited is the book running lead manager to the issue.