Bio-energy firm PRESPL plans a second round series-B funding
Emerging bio-energy company PRESPL is eyeing a second spell of series-B funding from a strategic investor. In March, Neev Fund of SBICAP Ventures belonging to SBI Capital Markets had invested $5 million (₹35 crore).
PRESPL (Punjab Renewable Energy Systems Pvt Ltd) is looking at leveraging the equity investment to raise debt of ₹200 crore in the next 18-24 months.
PRESPL Managing Director Monish Ahuja told BusinessLine that the country’s commitment to cut carbon emissions and the Supreme Court order banning pet coke have opened up opportunities for company. Last fiscal the company clocked revenues of ₹35 crore and turned PAT positive, he said.
