BS Transcomm eyes Rs 200cr from green energy business

BS Transcomm Limited, a Hyderabad-based provider of towers to telcos and power transmission companies, is expecting its off-grid renewable energy solutions business to contribute Rs 200 crore over the next 10 years.

“We have received an LoI (letter of intent) from Zamil New Delhi Infrastructure for 500 green energy sites, which will be installed in the next six months by our subsidiary Sugan Automatics,” Rajesh Agarwal, managing director of BS Transcomm, told mediapersons here.

Since last year the company has been conducting pilot tests at Bijapur in Karnataka for technology-intensive solar and wind hybrid solutions specific to telecom site infrastructure.

“After continuous testing at the Bijapur site for 40 days, we found that the tower had to be run on diesel-operated generators only for 100 hours out of 40 days,” Agarwal said, adding the company had tied up with Tata BP Solar for the solar panels.

The company, which reported revenues of Rs 163 crore in the first quarter of the current financial year, is tapping the capital market with an initial public offer (IPO) of over 7.6 million equity shares. The issue opened on October 6, and closed on October 8. “Of the over Rs 200 crore that we intend to raise through the IPO, Rs 90 crore will be deployed towards doubling our manufacturing capacity to 240,000 million tonne a year, and the remaining for clearing corporate loans and for other general and corporate requirements,” Agarwal said.