ReGen Powertech a Chennai based turbine manufacturer is set to come out with an IPO in the coming year. The company has intended to come out with an IPO between Rs.400 to Rs.500 crores from the markets. The company sells wind turbines under the license from the brand of Vensys which closed its financial year with a turnover of more than Rs.1,250 crores. However with the current orders executed and the orders set to be executed this year the company views a turnover of about Rs.2,700 crores for the financial year 2011-12.
A year before the company made a net profit of more than Rs.80 crores. For the current year the company has declared a profit of R.70 crores and a turnover of Rs.1,050 crores. The company is promoted by Hyderabad based Nuziveedu Seeds group that holds 42% , Mr Khemka and Mr Sundaresh holds about 21.5%. The rest is owned by Everstone Capital as a private equity fund. At the present moment the paid up capital of the company stands at Rs.140 crores in which the PE has contributed Rs. 50 crores.
The company has been performing quite well in the previous years where it had posted a turnover of Rs.17 crores in its very first year of operations. The company expects to become a billion dollar company by the mid of 2012.
Bell the Bull says: An IPO of Rs.400 crores by growing company such as RenGen seems to be a prospective one in the coming year