CESC may raise $60mn via foreign float

CESC is looking for fresh equity infusion of Rs 220-250 crore ($50-60 million) in the current fiscal to meet working capital needs and capital expenditure plans.

"We are contemplating various options to raise funds. The board has already given an in-principal approval for a global depository receipt (GDR) float," managing director Sumantra Banerjee said.

Among the major expansion plans that has been firmed up is the 250 MW Budge Budge-III plant. The company is also looking for oppurtunities to diversify to other states under the new Electricity Act, he added.