India's Energy Efficiency Champion Eyes IPO After Entering U.K.

India's state-backed Energy Efficiency Services Ltd. is considering an initial public offering as part of a plan to bring its power-savings business model to new markets including the U.K. EESL could launch its IPO as soon as the fourth quarter, after a planned September issue of $100 million in Masala and dollar bonds in the U.K., Managing Director Saurabh Kumar said in an interview with Bloomberg. With the help of U.K. partner Cenergist Ltd., EESL plans to replace replace incandescent and halogen bulbs in social housing cooperatives with energy efficient LED lighting. [Extracted from the article]