BF Utilities set to raise Rs 500 crore via equity route

BF Utilities is set to raise Rs 500 crore through the equity route. The company is looking to raise the amount to fund the completion of the first phase of the expressway, which has been in the works for nearly past two decades due to scores of land acquisition problems. In addition to completion of the 12 kilometres of the expressway under the first phase, the company is also expected to deploy the fresh resources to start the development of the township along the expressway, as and when the Courts clear the compensation play to land holders. BF Utilities is engaged in power generation through wind mill technology. The company was set up to satiate the power requirements of the Kalyani Group companies, which have business interests in areas of steel making, forging, machining, etc.