DVC to raise Rs 1,000 crore via SPV

Damodar Valley Corporation (DVC) will raise Rs 900-1000 crore through a special purpose vehicle (SPV) in about six months. It has appointed an international consultancy company, KPMG, to prepare a feasibility study for the purpose.

The corporation would initially dilute 10 per cent stake in the SPV and raise between Rs 900 and 1000 crore, a top notch executive told Business Standard under conditions of anonymity. The SPV would be a wholly owned subsidiary of DVC.