Hyderabad-based BS Transcomm, engaged in providing towers to telcom and power transmission companies, expects 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 reporters here today.
Agarwal said that the company had tied up with Tata BP Solar for the solar panels, and is currently in talks with companies like Indus Towers, BSNL and MTNL.
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 issued opened on October 6, and closes October 8, 2010. It has fixed the price band between Rs 257 and Rs 266.
"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 2,40,000 million tonnes a year, and the remaining for clearing corporate loans and for other general and corporate requirements," Agarwal said.
