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Mytrah Energy plans up to $300 million fundraising.

Renewable energy producer Mytrah Energy (India) Ltd is considering raising $100-200 million by selling shares through an initial public offering (IPO) or to private equity investors, managing director Vikram Kailas said.Separately, the company plans to provide an exit opportunity to existing investor IDFC Ltd, which owns a stake that is valued at about $100 million,.“We are looking to replace IDFC by March 2017 and we are also looking for some growth capital. Now, that can happen through several means; either it could be a private equity offering or it could be an IPO or it could be something else. We don’t know which mode we will take, but we are definitely in early stages of evaluating how to raise around $200-300 million,” he said.

Investors Apollo Global Management Llc, Merrill Lynch International (a unit of Bank of America Merrill Lynch) and IDFC together hold about 25% in the Indian unit, while founder Ravi Kailas and family own the rest. The parent company, Mytrah Energy Ltd, is listed on the Alternative Investment Market of the London Stock Exchange.IDFC’s infrastructure fund, under asset management unit IDFC Alternatives, had in 2011 invested Rs.350 crore in Mytrah through a structured finance transaction that will need an exit before March 2017, while Apollo Global and Merrill Lynch International are going to hold their investment in the renewable energy firm till 2020.