The country's largest private power producer Tata Power is exploring various options to raise around Rs 5,000 crore in the next three years.
Tata Power, which has an installed generation capacity of over 8,500 MW, has also embarked on ambitious expansion plans, including setting up projects in Vietnam and Georgia.
For raising funds, the power utility has said that it is studying all possible options.
"Everything is being studied, what is likely and what is not likely, something which we have not reached the decision as yet," Tata Power told analysts in November.
According to the transcript of analysts' call, the company's fund requirement is about Rs 4,000-5,000 crore over a three-year span.
The company's comment came in response to a query about the quantum of funds the company was looking at through various measures.
The fund raising options include possible sale of equity.
Without providing specific details, Tata Power told analysts that it would look at all funds, "including debt funds but today we are quite stretched as far as date is concerned".
At the end of September this year, the company's long term borrowings stood at Rs 32,842.24 crore.
"We have funds as of today probably till the first quarter of next year provided all our consumers pay us on time," the company said.
For the six months ended September, the company posted a net loss of Rs 39.73 crore. In the year-ago period, it had a net profit of Rs 62.13 crore.
These figures are after considering tax, minority interest and share of profit of associates.
Tata Power generated 22,738 million units of electricity in the six months ended September, much higher than 14,029 million units produced in the year-ago period.