KKV Agro powers to list shares on SME platform of NSE

Renewable energy generation and trading company KKV Agro Powers today said it will come out with an an initial public offering to raise Rs 3.50 crore for capacity addition.
The company will list its shares on the Small and Medium Enterprises (SME) platform of NSE. The issue would open on June 30 and close on July 7.
The city-based company, part of the SCM group that owns Chennai Silks and Sree Kumaran Thanga Maligai, would offer its shares on a face value of Rs 10 at Rs 310 per share, a company release said.
Encouraged by the motivation and encouragement from Narendra Modi-led government for renewable energy business, the company was going for the IPO to add new windmill to its present capacity, Company Secretary and Chief Financial Officer C Renuka said.

KKV has six mw wind energy generators and one mw solar energy generator and the power from these is supplied to big corporates, Renuka added.