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Business
Description:
KSK Emerging India Energy Fund Limited is a newly incorporated
Guernsey registered closed ended investment company
established to make investments in companies engaged in the
Indian power and energy sector.
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 is 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 the present level
of 143,000 MW to 200,000 MW by 2012, an increase that is
expected to require capital investment of approximately
US$120-150 billion over the next five years.
The Board
believes that this macro economic and political background will
lead to explosive growth in the Indian Power and Energy sector
over the next decade, providing attractive investment
opportunities across the entire value chain ranging from
utilities to equipment manufacturing.
The Fund primarily provides expansion capital to companies
related to the Indian energy sector in areas like fuels, power, EPC, manufacturing, energy transportation and others primarily
in India. The Fund will also consider investment opportunities
in companies outside India that have plans for expanding their
business in India.
Together with the
current standing of the KSK Group in the Indian energy sector
and the experience of the fund management team, the fund
brings significant ability to add value to the investee
companies in realising their growth plans.
KSK
Group is one
of the leading power developers in India. The parent company
of the KSK Group, KSK Power Ventur plc is listed on the AIM
market of London Stock Exchange since November 2006.
Directors
Country of
Incorporation:
Bailiwick of Guernsey as a registered closed ended
investment company.
Main country
of operation: India
KSK Emerging India Energy Fund Limited is not incorporated in
the UK and, therefore the rights of shareholders may be different
from the rights of shareholders in a UK incorporated company.
The Company’s
share capital comprises of Ordinary Shares which are traded on
the AIM market of the London Stock Exchange and listed and
traded on the Channel Islands Stock Exchange.
Securities
Information:
- 101,000,000
numbers of Ordinary Shares of nil par value at 100 pence
each were in issue following admission on Monday 9th June 2008.
Subsequent
to a buy back offer made in October 2008 on various dates,
the issued capital of the Fund with voting rights stands
revised at 94,500,000 number of Ordinary Shares of nil par
value at 100 pence per share. The Fund holds 6,500,000
Ordinary shares in treasury.
- Insofar as the
Company is aware, the
percentage of AIM securities that are not in public
hands is 25.53%
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