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KSK Ksk Power Ventur Plc

0.00 (0.0%)
30 Nov 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ksk Power Ventur Plc LSE:KSK London Ordinary Share IM00B1G29327 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 2.25 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 2.25 GBX

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Date Time Title Posts
19/7/201610:35Ever considered outsourcing your power needs?165

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Posted at 08/6/2016 07:59 by parvez
Listening to Bloomberg the other day, the Indian economy is picking up well and this will only drive demand for more power - KSK massively undervalued IMHO - DYOR, etc
Posted at 05/11/2013 23:16 by dibbs

Interesting info thanks. As you say there are possible positives on the horizon but the chart is horrific and I'd guess we are going lower before heading northwards. I've owned some KSK a few times over the years and keep an eye on them. I will quite possibly pick up a few again but want to see a change of direction rather than trying to catch the proverbial falling knife!

Posted at 05/11/2013 17:09 by m4m
Chart looks awful tho support levels not far away?

but someone is positive Dibbs

Nikunj Dalmia of ET Now collates recommendations from brokerages to come up with an outlook on KSK Energy. Excerpts:

The reason why KSK Energy could be a buzzing stock is very simple. Markets always vote for one simple thing, which is the rate of change and for KSK Energy, things of late have been rather awful. But awful could soon become better or awful could become bad. Why? Because there is a buzz that they are looking at raising debt in one of their global subsidiaries in order to reduce their total debt burden.

That really could be the trigger point for fixing the balance sheet. Also, there were some structural issues for the company: coal linkage, the kind of policy or the power purchase buying or power purchase policy which was followed by the Maharashtra Government. My sense is that both those issues will be fixed.

The company now is looking at changing the way they acquire coal and if they are able to commission a new coal linkage supply chain, that automatically will reduce their entire cost by about 15% to 20%.

They also have emerged as one of the big L1 bidders for a supply agreement with the UP Government where the merchant power business could be the big upside for KSK Energy.

Valuations? Not stretched it all. Based on FY-15 estimates, with the assumption that they are able to reduce their debt and capture only two quarters of upside from the merchant power business, the stock is trading at a PE multiple of less than eight times.

The market capitalisation? About $1 billion. Ownership pattern? Decent. Local mutual funds do have a limited exposure to this one. So focus on this one. Markets clearly are now in a mood to revisit cyclical stocks and look at companies where either the balance sheet change is happening and where the rate of change really could move. So this one is on the radar for lot of HNI investors as well and my sense is that level of 70 to 75 maybe before December should be around the corner.
Posted at 01/9/2012 14:25 by guidfarr
KSK covered in September's edition of spread betting magazine -> [pages 93 to 95]
Posted at 12/1/2012 21:11 by dibbs
Hi Par,

Sorry I missed your post here from way back, not quite sure how given how few their are! Apologies for appearing ignorant.

Congratulations on getting out at a very good moment in time. 30% losses are always best avoided! My attention was drawn to KSK today by the 5 million share trade. I wonder if this seller and subsequent overhang was the reason for the fall in early November and why the share price has remained within a fairly tight range since. It will be interesting to see if the share price climbs from here over the next few days...

As you suggested on a 2 year view they should look long as coal prices, sales prices and planning and environmental factors behave! As long term followers of this sector you and I have both seen how these companies have been through their fair share of ups and downs. You'd think this sector would be a long term buy and hold but in reality trading more actively has been the way to make the money, and preserve it! Refinancing, yes that could be interesting! I would not want to assume they will manage this as the climate remains bad equally they might manage it. It begs the question as to what their forecasts are anticipating in terms of refinancing or not? If the forecasts assume lower financing costs and these can't be delivered then I guess they'd end up warning on profits.

Who knows what the future holds for these Indian energy companies? For sure I remain keen but currently more so as an observer than a player!

Hope you are keeping well and have managed to keep your portfolio in similar good health! Not easy in recent times!

Posted at 01/12/2011 16:38 by par555
Hi Dibbs,

Like you still watching but don't hold at present,bailed out earlier this month so lucky not to participate in the 30% fall !

Now sitting below the 62.5 million placing ( sept 2010) price 0f 510p

There must surely come a point soon when this is very cheap on a 2 year view , after all it is fast approaching the previous bottoms @ around 400-450p

Financing costs and fuel cost increases are what has killed the p&l account .Financing costs 98k v 21k previos year.I see a mention in the statement of seeking refunding , what chance in today's cerdit climate I wonder ?

Posted at 23/11/2011 09:47 by dibbs
Quite a fall here in the last couple of weeks. A distressed or forced seller or someone in the know? I have vague recollections of KSK falling before after no RNS'd news, only for an RNS to appear which then explained the fall. No position myself but have always followed KSK.

Posted at 30/9/2010 21:02 by dibbs
Great to see that KSK were able to raise money so easily and with only a small discount to the prevailing price before the RNS. The RNS also explains the 3.2 million trade at 510p.

I wonder whether the owner of the 3.2 million had been looking to sell for some time which had dragged on the price a while back. Possibly the demand for placing shares allowed this overhang to be cleared up at the same time. Certainly the share price jumped once this trade went through.

Hard to work it all out but I'm happy enough whilst the price is moving in the right direction!

Posted at 12/5/2008 07:21 by ron manager
Not for release, publication or distribution in, or into, the United States,
Canada, Australia, Japan, Israel, the Republic of Ireland or the Republic of
South Africa.

Press Release 12 May 2008

KSK Emerging India Energy Fund Limited

('KEF' or 'the Fund')

Intention to Float

KSK Emerging India Energy Fund Limited, an investment company focused on the
Indian power and energy sector, today announces its intention to seek admission
('Admission') of its Ordinary Shares to trading on the AIM Market of the London
Stock Exchange plc ('AIM') and on the Channel Islands Stock Exchange ('CISX').
Dealings are expected to commence in early June 2008.

KEF will target investment in businesses that operate across the Indian power
and energy sector value chain, including those involved in the development of
infrastructure. The Fund will be seeking to invest primarily in companies whose
assets and businesses are based in India although, if deemed appropriate, it may
also invest in companies based outside the region but which have the potential
to benefit from the Indian power and energy markets.

The Indian energy sector has historically been characterised by power shortages
which have been increasing in recent years. Over 40 per cent. of the Indian
population are without direct access to power and approximately 14 per cent. of
peak demand is unmet. To overcome this deficit, and to sustain the growth of
its economy, India needs energy.

The Indian Government has a stated mission to provide 'Power for All' by 2012.
This integrated strategy aims to support a GDP growth rate of eight per cent. by
securing sufficient, reliable and inexpensive power. This plan also requires
that India's installed generation capacity should grow from a present level of
143,000 MW to 200,000 MW by 2012, an increase that is expected to require a
capital investment of approximately US$120-150 billion over the next five years.
The Board believes this macro economic background will generate multiple
opportunities which fit with the Fund's proposed investment policy.

The Fund will appoint KSK Asset Management Services Private Limited to act as
the Investment Manager, who in turn, will appoint KSK Investment Advisor Private
Limited to act as the Investment Adviser, both of which are subsidiaries of KSK
Power Ventur plc ('KSK'). KSK is an Indian power developer listed on the AIM
market of the London Stock Exchange (KSK.L, market cap. c.US$1.5 billion). It
has relationships with General Electric, who have a 20 per cent. indirect
interest in KSK, and Lehman Brothers, who have a 33.4 per cent. interest in
KSK's operating subsidiary which has invested circa US$140 million in KSK
development projects. KSK also has an existing fund management business having
launched and managed the Small is Beautiful Fund, set up in 2004 to invest in
captive projects less than 100MW in size, which has delivered four exits to date
with an average realised IRR of 19 per cent. (unaudited).

The Fund intends to benefit from the network, order book and investments made by
KSK and through its prominent position in the Indian power market, it has
identified a pipeline of 14 proposed investments for the Fund. These
opportunities include equipment suppliers (turbine and boiler manufacturers) and
power developers (hydro electric, biomass and gas fired), and the Fund
anticipates that this pipeline will expand after Admission. KSK will have
completed two of these transactions prior to Admission and the Fund will have
the right to acquire these interests at cost.

KEF will seek to invest between US$5 million and US$75 million into each
investment over a typical two to eight year life cycle, aiming to achieve an IRR
in excess of 20 per cent. in each case, and typically exiting via an IPO or
trade sale. It is anticipated that the Fund will spread risk by investing no
more than 20 per cent. of its Net Asset Value into any one asset and the Board
anticipates that at least 80 per cent. of the Placing proceeds will be invested
within 12 months following Admission, and the remaining proceeds within 18
months from the date of Admission, subject to standard holdbacks for potential
follow-on investment and future management fees.

Commenting on the proposed flotation, Tanmay Das, Non-Executive Director of KSK
Emerging India Energy Fund Limited, said: 'KEF's planned admission to AIM is a
significant step in the evolution of KSK's fund management business within
India's power and energy sector.

'Large population expansion, rapid industrialisation, urbanisation and
increasing per capita income are all leading to a huge demand for energy in
India. With our business relationships and significant industrial expertise, we
are confident of exposing the fund to a number of the future success stories in
the sector, generating substantial returns for our shareholders along the way.'

Grant Thornton Corporate Finance, a division of Grant Thornton UK LLP, is acting
as Nominated Adviser to the Fund and Liberum Capital Limited is acting as
Financial Adviser and Broker.

- Ends -

For further information:

KSK Emerging India Energy Fund Limited
Tanmay Das, Non-Executive Director Tel: +44 (0) 20 7398 7715

Grant Thornton Corporate Finance

(Nominated Adviser)
Philip Secrett Tel: +44 (0) 20 7728 2578

Liberum Capital Limited

(Financial Adviser and Broker)
Steve Pearce Tel: +44 (0) 20 3100 2224

Media enquiries:

Abchurch Communications Limited
Henry Harrison-Topham / Justin Heath Tel: +44 (0) 20 7398 7702

Notes to editors

KEF and the proposed investment pipeline

KSK has identified 14 potential investments which encompass equipment suppliers
(including turbines and boilers) and power developers (including hydro electric,
biomass and gas fired). Detailed examples of four of these initial pipeline
investments are set out below:

'Company A' is a developer with particular expertise in hydro electric power
projects. It currently owns stakes in five power schemes with a total capacity
of 7290MW, including a 1200MW hydro power project in the Indian Himalaya which
is currently under construction.

'Company B' is a biomass power developer, operating a 4.5MW biomass generator in
South India that has been accredited with gold standard Certified Emission
Reductions ('CERs'). Company B has also established a vehicle with other
partners for the development of several biomass power plants in the State of
Punjab which, on commission, will have an aggregate capacity of 147MW.

'Company C' is a leading manufacturer of electricity generation turbines based
in the European Union, with decades of accumulated expertise in turbine design,
manufacture, installation and servicing. It offers a broad product range across
most fuel types (i.e. thermal, biomass, nuclear) and capacities (20MW to
1000MW), to a significant global customer base.

Its presence in India is sizeable, and it achieved global orders of 23 turbines
(5GW capacity) in 2007 and 24 turbines (6.8GW capacity) in 2008.

'Company D' is a manufacturer of boilers and an Engineering, Procurement and
Construction ('EPC') contractor for small and medium size power plants, based in
South-East India. During its 25 year operating history the company has
commissioned over 800 boiler orders and seven power plants.

KSK Power Ventur plc

KSK Power Ventur plc (AIM:KSK), a power project development company with
interests in multiple power plants across India, listed on the London Stock
Exchange in November 2006. KSK Power Ventur plc develops, operates and
maintains private sector power projects, predominantly through joint ventures
with heavy industrial consumers in the region.

Since its flotation KSK's shares have risen 420 per cent. to a market
capitalisation of circa US$1.5 billion. KSK operates in India through its
subsidiary, KSK Energy Ventures Limited, which is a leading developer in the
Indian power sector, having set up India's first merchant power plant and first
captive power plant under a build-operate-transfer model. KSK has 3 fully
operational power plants (144MW), two power projects under construction (675MW),
which are anticipated to be operational in October 2008 and December 2009
respectively, three projects under development (1,973MW) and five further
projects (6,345MW) in the planning stage.

KSK Emerging India Energy Fund Limited

Proposed Board of Directors

Michael Liston OBE, age 56

Mr. Liston is chief executive officer of Jersey Electricity plc which is listed
on the main market of the London Stock Exchange. He joined in 1986 as chief
engineer and became managing director in 1993. He previously held a number of
senior posts in the United Kingdom's electricity supply industry. He is chairman
of Channel Islands Electricity Grid Limited, non-executive chairman of AIM
traded, Renewable Energy Generation Limited, chairman of Foreshore Limited and
non-executive chairman of Jersey Post. Mr. Liston is a Fellow of the Royal
Academy of Engineering, a Fellow of the Institution of Engineering and
Technology and a Member of its Audit and Disciplinary Committees. He is a
Companion of the Chartered Management Institute and past chairman of its Jersey
branch. He was appointed by the States of Jersey in 2002 as chairman of the
Jersey Appointments Commission.

Scott Bayman, age 61

Mr. Bayman served over 13 years as president and chief executive officer of
General Electric India, transforming a company with US$100 million turnover and
a few hundred employees to one that represents all of GE's global businesses in
India with a turnover of almost US$3 billion and over 13,000 employees in 2007.
He is an independent non-executive director of KSK as well as being a member of
the Board of the U.S. India Business Council, a trustee for Aspen India, past
chairman of the American Chamber of Commerce India and sits on the corporate
boards of Crompton Greaves Limited, Punj Lloyd Limited and Jubilant Energy NV.

Tanmay Das, age 37

Mr. Das has a bachelor's degree in electrical engineering and a postgraduate
diploma in management from the Xavier's Institute of Management. He has worked
in the Industrial Finance Corporation of India Limited, as credit officer in the
area of project finance. Mr. Das joined KSK in December 1999. He held the
position of chief financial officer, where, in addition to performing his role
of capital budgeting, control, compliance and raising capital, was actively
involved in the strategic decision making of KSK. He was instrumental in the
launch of KSK's asset management business, being actively involved in raising
and deployment of the ''Small is Beautiful'' fund. He has also been chief
executive officer of the KSK's hydro business group. Currently, Mr. Das is on
the board of KSK Energy Ventures Limited, KSK's operating subsidiary, as an
executive director, and is responsible for KSK's asset management business.

Huw Evans, age 50

Mr. Evans has extensive experience in the financial services industry. He
qualified as a chartered accountant with Peat, Marwick Mitchell (which became
part of KPMG) and subsequently worked in corporate finance at Schroders. In 1986
Mr Evans joined Phoenix Securities where he worked for twelve years in London
advising companies principally in the financial services industry on mergers and
acquisitions and more general corporate strategy. He advised companies in a wide
variety of sectors, including asset management, stockbroking, insurance and
insurance broking and banking. Mr. Evans is a non-executive director of European
Capital Limited, a W1 billion private equity fund listed on the main market of
the London Stock Exchange. He is resident in Guernsey.

KSK Investment Advisor Private Limited - The Investment Adviser

The proposed directors of the Investment Adviser include Tanmay Das and the

Sethuraman Kishore, director, age 45

Mr. Kishore is a founder and executive director of KSK and is a chartered
accountant. He is head of the business development and capital formation group
of KSK. He has co-chaired the Energy Committee of Federation of Andhra Pradesh
Chambers of Commerce and Industry. Prior to founding KSK, Mr. Kishore had
advised and provided consulting services to a number of power projects in India.
His areas of specialisation are handling investments for power equity funds in
small-to-medium sized power projects, regulatory reform and restructuring of the
power sector, distributed power generation, and advising on and arranging
project finance for the infrastructure sector.

Kolluri Ayyappa Sastry, director, age 48

Mr. Sastry is a founder and executive director of KSK and is also a chartered
accountant. He heads the execution and operations divisions of KSK and is also
responsible for its financial accounting and records. His areas of
specialisation are financial accounting, contracting, commercial implications,
taxation, legal/regulatory affairs and company law. He has extensive experience
in system design and implementation of corporate business models and its
accounting. Prior to founding KSK, Mr. Sastry has advised many companies on
matters relating to company law, taxation and foreign investment and foreign
exchange regulations.

The Investment Adviser team also includes:

Umesh Kudalkar, fund manager, age 45

Mr. Kudalkar has a bachelors degree in mechanical engineering, a masters in
management studies and is a chartered financial analyst. He most recently acted
as chief executive officer of Sicom Capital Management Private Limited for 8
years, where he was responsible for conceptualising the funds, raising funds
from institutions and high net worth individuals, developing investment and
divestment strategy, selecting investment opportunities, profitable fund
deployment, corporate governance and overseeing support functions. Before this,
Mr. Kudalkar worked for 13 years with SICOM Ltd., a financial institution
focused on corporate financing. He handled a variety of assignments in SICOM,
including business development and project funding.

Ajay Bhaskar Limaye, fund manager, age 38

Mr. Limaye has a bachelors degree in production engineering, an MBA in finance
and is a chartered financial analyst. He has most recently worked for 8 years as
senior vice president at Sicom Capital Management Private Limited where he was
responsible for deploying the funds, deal structuring, legal agreements,
divestments, investor presentations and other fund management activities. Prior
to this, Mr. Limaye worked for 6 years with GVFL Limited, a pioneer in the
Indian venture capital industry that managed multiple funds raised from domestic
and overseas investors. He started his career with RPG Enterprises, a
diversified Indian business house, where he worked in areas such as MIS and IPO

Sandhya Rani Sama, chief financial officer, age 38

Ms. Sama is a chartered accountant with 12 years of experience in financial
auditing and accounting. She was previously a vice-president at S.R. Batliboi &
Co (a member firm of Ernst & Young Global), and has extensive experience in risk
management, financial reporting and has been involved in capital market
transactions such as preferential allotments, qualified institutional placements
and foreign currency convertible bonds for large corporations.


The contents of this press release, which have been prepared by and are the sole
responsibility of the Fund, have been approved by Grant Thornton Corporate
Finance and Liberum Capital Limited. Grant Thornton Corporate Finance and
Liberum Capital Limited are authorised and regulated by the Financial Services
Authority and are acting for the Fund in connection with the placing and
admission to trading on AIM and the CISX and will not regard any other person as
their respective clients and will not be responsible to anyone other than the
Fund for providing the protections afforded to their respective clients or for
providing advice in relation to the placing, the admission to trading on AIM and
the CISX, the contents of this press release or any matters referred to herein.

This press release is not for distribution (directly or indirectly) in or to the
United States, Canada, Australia, Japan, Israel, the Republic of Ireland or the
Republic of South Africa. This press release is not an offer of securities for
sale in or into the United States, Canada, Australia, Japan, Israel, the
Republic of Ireland or the Republic of South Africa. This press release does not
constitute or form part of any offer or invitation to sell or issue, or any
solicitation of any offer to purchase or subscribe for, any Ordinary Shares of
the Fund or any other securities, nor shall the fact of its distribution, form
the basis of, or be relied on in connection with, any contract therefor, and any
purchase of or application to subscribe for securities of the Fund should be
made only on the basis of information contained in the listing document and the
AIM admission document in its final form. In particular, this press release
refers to certain events as having occurred which have not occurred at the date
it is made available but are expected to occur prior to the publication of the
listing document and the AIM and CISX admission document in its final form
relating to the Fund.

This press release is only being distributed to and is only directed at (i)
persons who are outside the United Kingdom or (ii) to investment professionals
falling within Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (the 'Order') or (iii) high net worth entities,
and other persons to whom it may otherwise be lawfully communicated, falling
within Article 49(2)(a) to (e) of the Order (all such persons together being
referred to as 'relevant persons'). The Ordinary Shares are only available to,
and any invitation, offer or agreement to subscribe, purchase or otherwise
acquire such Ordinary Shares will be engaged in only with, relevant persons.
Any person who is not a relevant person should not act or rely on this press
release or any of its contents.

This press release is not an offer of securities for sale in the United States.
Securities may not be offered or sold in the United States absent registration
under the US Securities Act of 1933, as amended or an exemption therefrom. The
issuer has not registered and does not intend to register any securities under
the US Securities Act of 1933, as amended, and does not intend to offer any
securities in the United States or to US Persons (as defined in Regulation S).
The Company will not be registered under the US Investment Company Act of 1940,
as amended, and investors will not be entitled to the benefits of that Act. No
money, securities or other consideration from any person inside the United
States or US Person is being solicited and, if sent in response to the
information contained in these written materials, will not be accepted.

Consent under the Control of Borrowing (Bailiwick of Guernsey) Ordinance, 1959
as amended has not yet been obtained for the raising of monies by the Fund. The
Fund intends to apply for consent under the Guernsey Financial Services
Commission's framework relating to Registered Closed-ended Investment Funds.
Neither the Guernsey Financial Services Commission nor the States of Guernsey
Policy Council takes any responsibility for the financial soundness of the Fund
or for the correctness of any of the statements made or opinions expressed with
regard to it. Interests in the Fund may not be offered directly to members of
the public in the Bailiwick of Guernsey. The 'public' means any person not
regulated under any of Guernsey's financial services regulatory laws within the
Bailiwick of Guernsey.

The distribution of this press release and other information in connection with
the admission in certain jurisdictions may be restricted by law and persons into
whose possession any document or other information referred to herein comes
should inform themselves about and observe any such restriction. Any failure to
comply with these restrictions may constitute a violation of the securities laws
of any such jurisdiction.

Some of the information contained in this press release contains statements that
are, or may be deemed to be forward-looking statements. Forward-looking
statements are based on our current expectations and assumptions regarding our
business, the economy and other future conditions. Because forward-looking
statements relate to the future, they are, by their nature, subject to inherent
uncertainties, risks and changes in circumstances that are difficult to predict.
We caution you not to rely on any such statements as statements of historical
fact or as guarantees or assurances of future performance. Save as required by
law or by the Listing Rules, Disclosure and Transparency Rules or Prospectus
Rules of the Financial Services Authority, we undertake no obligation publicly
to release the results of any revisions and updates to any forward-looking
statements in this press release that may occur due to any change in our
expectations or to reflect events or circumstances after the date of this press

Information in this press release relating to the Fund and the Admission cannot
be relied upon as a guide to future performance.
Posted at 10/12/2006 21:38 by m4m
KSK Power Ventur PLC01 November 2006

2006-11-01 08:00:19
KSK Power Ventur PLC - Admission to AIM
RNS Number:3474L
KSK Power Ventur PLC
01 November 2006

1 November 2006

Not for publication, distribution or release in the US, Canada, Australia, the
Republic of Ireland, South Africa or Japan


Placing of 28,878,505 Ordinary Shares of 0.1p each at 107p per share

Admission to trading on AIM

KSK Power Ventur plc ("KSK" or "the Company"), an innovative developer of
private power projects in India, announces completion of a successful Placing of
Ordinary Shares by Arden Partners plc ("Arden Partners") and its admission to
trading on AIM today.

Placing and Admission

* The Company has raised approximately £30.9 million through a placing of
28,878,505 Ordinary Shares at 107 pence per share.

* Arden Partners, nominated adviser and broker to KSK, has placed all of
these shares with institutional investors.

* Of the net proceeds of the Placing, approximately £11.5m will be used to
invest in power projects and approximately £13.8m will be used to develop
fuel assets.

* In addition to raising the funds, the Directors believe that Admission
will increase the Company's profile both in India and internationally,
enable access to capital markets and diversify its investor base.

* On Admission, the Company will have an initial market capitalisation of
approximately £137.9 million.

Placing Statistics:

|Placing Price | 107p|
|Number of Placing Shares | 28,878,505|
|Number of Ordinary Shares in issue immediately following the | 128,878,505|
|Placing and Admission | |
|Placing Shares as a percentage of the Enlarged Share Capital | 22.4%|
|Estimated net proceeds of the Placing (1) |£25.3 million|
|Market capitalisation immediately following Admission at the | £137.9|
|Placing Price | million|

(1) Net proceeds are stated after the deduction of estimated expenses of
approximately £1.9 million and the buy-back monies to be paid pursuant to the

S. Kishore, Executive Director, commented:

"In the deregulated Indian market businesses are increasingly looking for
consistent and economic power supplies. KSK has a clear track record of
delivering innovative private power project solutions and is well positioned to
benefit from this growing energy demand. Our approach enables income generation
from all parts of the value chain and we have a visible pipeline of further
plants becoming operational over the coming months.

We are delighted to have successfully completed the IPO and look forward to
joining AIM. These are exciting times for the Company and the successful offer
will help us to exploit the growth opportunities open to us. We look forward to
updating investors on developments in the coming months."

For further information, please contact:

KSK Power Ventur plc +(91) 40 2355 9922
S. Kishore, Executive Director
Mike Kirk, Non-executive Director 020 7398 1632

Arden Partners plc 020 7398 1600
Richard Day
Steve Pearce

Hogarth Partnership Limited 020 7357 9477
Nick Denton
Barnaby Fry

Arden Partners, which is regulated and authorised in the United Kingdom by the
Financial Services Authority, is acting as nominated adviser and broker (for the
purpose of the AIM Rules) exclusively for the Company in connection with the
Placing and Admission and is not acting for any other person and will not be
responsible to any other person for providing the protections afforded to
clients of Arden Partners, nor for advising any other person in connection with
the transactions and arrangements detailed in this document. The
responsibilities of Arden Partners, as nominated adviser and broker under the
AIM Rules, are owed solely to the London Stock Exchange plc and are not owed to
the Company or to any Director or to any other person in respect of their
decision to acquire Ordinary Shares in reliance on any part of this document. No
liability whatsoever is accepted by Arden Partners for the accuracy of any
information or opinions contained in, or for the omission of any material
information from, this document, for which it is not responsible.


KSK is a new holding company which, following the Reorganisation and its
resultant ownership of KSK India, will be the ultimate holding company of the
Enlarged Group.

The Promoters, S. Kishore, K. A. Sastry and V. H. Kiran, have been involved in
developing power projects in India since 1998. They established KSK India in
February 2001 to exploit emerging opportunities in the Indian power sector and
have since focused its strategy on the private sector power development market,
providing development, operation and maintenance services predominantly to heavy
industrials operating in India.

KSK India has developed, or is currently developing, power stations capable of
generating in aggregate 400 MW of electrical power for a number of customers
including India Cements Limited, Lafarge India Private Limited and Zuari Cement
Limited. KSK India has a pipeline of future projects which are anticipated to be
completed by 2011 resulting in a total capacity of 3,200 MW.

In order to control the fuel supply to future operations, KSK India has also
secured, or is in the process of securing, access to certain coal and lignite
assets and resources across India.

To date the development of each project has been funded by equity provided by
KSK India, customers and financial investors, and debt from various financial
institutions. Currently, the equity for three of the existing projects has been
financed in part through a joint venture with Lehman. It is intended that the
equity for future projects will be funded by KSK (via this joint venture with
Lehman) along with other investors.


The Promoters and KSK India have a demonstrated track record of developing small
and medium sized power plants for a range of customers. They have established a
highly qualified and experienced team to undertake this development activity.
Wherever possible, KSK will use a standard configuration of equipment and
construction in order to optimise speed of delivery of the completed project and
to minimise costs.

KSK India outsources the planning, set-up and operation of its power plants,
using a range of service providers as follows:

*Consultant engineers undertake the power plant design and configuration.
*Contractors undertake the procurement and construction requirements for
each power plant within defined plant operation parameters.
*Contractors also undertake the ongoing operation and maintenance of the
power plants.

KSK India has a wide pool from which to select contractors (both domestic and
international) to provide these services and is able to invite tenders at each
stage thereby promoting competition and innovation of design.


KSK's strategy for growth is to work with major international and Indian
businesses and electricity distribution companies to ensure that they have
access to a dependable and cost effective source of electrical power. This will
be achieved through the development, construction, operation and maintenance of
optimally sized power plants with appropriate fuel sources. To this end KSK
India has secured, and will continue to secure, access to various fuel sources
across India to help maintain security of supply and cost control.


The supply and availability of dependable and economic power supplies to
industry will be fundamental in ensuring that this anticipated growth in Indian
GDP is achieved, which puts reducing the deficit of power at the forefront of
the political agenda. As a result, both the federal, as well as the state
governments have the authority to legislate on this subject.

The Indian Electricity Act 2003, removed licensing requirements for power
generators, provided for open access to transmission and distribution networks
and removed restrictions on the right to build captive generation plants.
Specifically, the open access reforms have increased interest in private
investment in power generation, as companies are able to sell their output to
different distribution companies and/or, directly to consumers.


The Board consists of six directors in respect of whom brief biographies are set
out below.

Padma Bhushan Mr. T.L. Sankar (age 72) - Non-Executive Chairman. Mr Sankar is
renowned in India as an energy expert, having received the Padma Bhushan title
in India, and has more than four decades of experience in the sector, including
Secretary of the Fuel Policy Committee (1970-75), Principal Secretary of the
Working Group on Energy Policy (1978-79), as a member of the Advisory Board on
Energy, Government of India and as a member of the Integrated Energy Policy
Committee. Mr. Sankar also served as Chairman of APSEB - the state power utility
in southern India. Currently, Mr. Sankar is the Chairman of the Expert Committee
for the comprehensive review and recommendation of a roadmap for the coal sector
in India. He has also served the United Nations as an adviser on energy issues
to the governments of Sri Lanka, Tanzania, Jamaica, North Korea and Bangladesh
and has headed the Asian Development Bank's Asian Energy Survey.

Mr. S. Kishore (age 44) - Executive Director. Mr. Kishore is one of the
Promoters and is a chartered accountant by profession. Together with Mr. Sastry,
Mr. Kishore set up K&S Consulting Group Private Ltd and subsequently with Mr.
Sastry and Mr. Kiran Vadlamani, KSK India. Over the years, he has worked on
various matters across the power generation spectrum. At KSK, he heads the
business development and capital formation groups.

Mr. K. A. Sastry (age 47) - Executive Director. Mr. Sastry is one of the
Promoters and is a chartered accountant by profession. Together with Mr.
Kishore, Mr. Sastry set up K&S Consulting Group Private Ltd and subsequently
with Mr. Kishore and Mr. Kiran Vadlamani, KSK India. Mr. Sastry heads up the
execution and operations divisions of the KSK India business, as well as having
responsibility for the financial accounts and records for the Enlarged Group.

Mr. V. H. Kiran (age 43) - Executive Director. Mr. Kiran is one of the Promoters
and is a chartered accountant by profession. He worked as a partner in
Umamaheswara Rao & Co Chartered Accountants for 8 years before he joined Mr.
Kishore and Mr. Sastry at K&S Consulting Group Private Ltd and subsequently KSK
India. Over the years, he has worked on numerous consulting assignments for
various clients across different sectors in the area of corporate finance,
capital markets and merger and acquisition transactions. At KSK, he was
initially involved in strategy, legal and regulatory matters. He currently looks
after the asset management division and manages the small is beautiful fund.

Mr. M.P. Kirk (age 46) - Non-Executive Director. Mr. Kirk was managing director
of Weber Shandwick Square Mile, a financial communications consultancy, until
July 2005. He joined Weber Shandwick from Cazenove, the UK investment bank,
where he worked in corporate finance for over 13 years, four of those as a
partner in the firm. Whilst at Cazenove, Mr. Kirk advised companies on a wide
range of corporate issues including the demerger of Centrica plc from British
Gas plc, the Lattice plc demerger from BG plc and the UK listings of John Wood
Group PLC and KBC Advanced Technologies plc. His early experience was in the
energy and insurance sectors, having started his career at British Nuclear
Fuels. Mr. Kirk is also a member of the Primary Markets Group of the London
Stock Exchange. A chartered engineer, Mr. Kirk has an MBA in finance and degrees
in chemical engineering and nuclear fuel technology. Mr. Kirk is also a
non-executive director of KBC Advanced Technologies plc.

Mr. S.R. Iyer (age 66) - Non-Executive Director. Mr. Iyer joined the State Bank
of India as a probationary officer in 1962 and after holding various positions
with the Bank in India and abroad, retired as its managing director in 2000.
Since then, he has been part of various banking industry working groups in India
and was Executive Chairman of the Credit Information Bureau (India) Limited from
February 2001 to February 2004, a joint venture promoted by the State Bank of
India and the Housing Development Finance Corporation Limited.


The following financial information summarises the audited financial record of
the KSK India Group for the three year period ended 31 March 2006.

Year ended Year ended Year ended
31 March 2006 31 March 2005 31 March 2004

US$'000 US$'000 US$'000
Profit & Loss Account
Revenue 5,316 6,086 1,419
Gross Profit 2,834 3,947 656
Profit from operations 484 1,571 96
Profit before tax 880 441 (68)

As at As at As at

31 March 2006 31 March 2005 31 March 2004

US$'000 US$'000 US$'000
Balance Sheet
Non current assets 36,977 13,901 8,436
Current assets 17,626 10,694 5,358
54,603 24,595 13,794
Non current liabilities (26,421) (4,947) (6,627)
Current liabilities (20,289) (11,733) (3,955)
Equity (7,893) (7,915) (3,212)
(54,603) (24,595) (13,794)


In addition to the three KSK operating power plants RVK, Kasargod and
Coromandel, another plant, Arasmeta, has recently also become operational and is
generating power.

There is a clear pipeline of further power plants becoming operational over the
coming months and KSK are also discussing many new projects with customers using
a variety of fuel sources.


Of the net proceeds of the Placing, approximately £3.7 million will be applied
by KSK India to buy back and redeem the shares in it held by K&S as part of the
Reorganisation, approximately £11.5 million will be used to invest in power
projects and approximately £13.8 million will be used to develop fuel assets.

The Directors believe that the Admission will also raise the Company's profile,
enable future access to capital markets and diversify its investor base.


The following words and expressions have the following meanings throughout this
Press Announcement, unless the context requires otherwise:

"Admission" the admission of the Enlarged Share
Capital to trading on AIM and such
admission becoming effective in accordance
with the AIM Rules;

"AIM" the market of that name operated by the
London Stock Exchange;

"AIM Rules" the rules of the London Stock Exchange
governing admission to and the operation
of AIM, as amended from time to time;

"Arden Partners" Arden Partners plc (Registered No.
4427253) whose registered office is at
Arden Partners House, 17 Highfield Road,
Edgbaston, Birmingham B15 3DU;

"Bijlee" Bijlee Bharat Holdings, a wholly owned
subsidiary of the Company incorporated in

"Company" or "KSK" KSK Power Ventur plc and all of its
subsidiaries and interests in SPVs
following the Reorganisation;

"Directors" the directors of the Company named in this

''Enlarged Group'' the Existing Group as further enlarged
pursuant to the Reorganisation so as to
include the KSK India Group;

''Existing Group'' the Company and Bijlee;

"KSK India" KSK Energy Ventures Private Limited;

"KSK India Group" KSK India and each of its subsidiary
undertakings and interests in SPVs;

"K&S" K&S Consulting Group Private Limited, a
company controlled, and majority owned, by
the Promoters;

"Lehman" LB India Holdings Mauritius I Limited;

"London Stock Exchange" London Stock Exchange plc;

"Ordinary Shares" the ordinary shares of 0.1 pence each in
the capital of the Company;

''Placing Agreement'' the conditional agreement dated 26 October
2006 between (1) Arden Partners, (2) the
Company (3) the Directors and (4) K&S
relating to the Placing;

"Placing" the conditional placing by Arden Partners
of the Placing Shares with institutional
and other investors at the Placing Price
pursuant to the Placing Agreement;

"Placing Price" 107p per Placing Share;

"Placing Shares" the 28,878,505 new Ordinary Shares the
subject of the Placing;

"Press Announcement" this press announcement;

"Promoters" Mr. S Kishore, Mr. K A Sastry and Mr. V H
Kiran, who are the promoters of the
Company and KSK India;

"Reorganisation" the subscription for new shares in KSK
India by Bijlee and subsequent buy-back by
KSK India of all its existing shares held
by K&S which will result in the KSK India
Group becoming wholly-owned by the
Existing Group;

"SPV" special purpose vehicle, each being an
Indian registered company incorporated for
the purpose of a specific power project in
which the KSK India Group will typically
hold a minority interest;

- Ends -

This information is provided by RNS
The company news service from the London Stock Exchange

Ksk Power Ventur share price data is direct from the London Stock Exchange

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