The state-run EESL (Energy Efficiency Services) is planning to launch its initial public offering (IPO) worth INR 5,000 crore, as per the mint report. The proceeds from this IPO will be utilized to lease electric vehicles & install smart meters to measure power consumption, according to the report.

EESL is a joint venture set up by major 4 companies, Rural Electrification Corp, NTPC, Power Finance Corp (PFC) & Rural Electrification Corp (REC) & power Grid Corp.

The energy company is expected a profit of approx. INR 200 crore on revenue of INR 4,000 crore in the financial year 2020. EESL’s debut on the stock exchange has been in the pipeline for 2 years.

EESL aims to sell 2.5K efficient air conditioners (ACs) in 2 phases and will invest INR 200 crore for this project. Along with this, the company is also setting up charging stations (for EV) in Kolkata, West Bengal.

However, the company hasn’t published an official statement about launching the Initial Public Offer yet.

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