The company made this announcement after market hours on Thursday, 28 January 2010.

Meanwhile, the BSE Sensex was down 269.72 points, or 1.65% to 16,037.69.

On BSE, 49,206 shares were traded in the counter as against an average daily volume of 70,180 shares in the past one quarter.

The stock hit a high of Rs 1046 and a low of Rs 990 so far during the day. The stock hit a 52-week high of Rs 1479 on 23 November 2009 and a 52-week low of Rs 268 on 25 March 2009.

The company's equity capital is Rs 18.83 crore. Face value per share is Rs 5.

The company will raise funds through issue of securities including equity or equity linked securities, by way of qualified institutional placement (QIP) to qualified institutional buyers, American depository receipt, global depository receipts, foreign currency convertible bonds or convertible warrants, the company said in a filing with BSE. The terms are to be decided by the board, it added.

The proceeds will be used for the company's long-term financial requirements for projects in infrastructure development, urban infrastructure, power, renewable energy and other allied fields, the company said.

BF Utilities reported lower net loss of Rs 1.50 crore in Q1 December 2009 compared to net loss of Rs 2.47 crore in Q1 December 2008. Net sales rose 13.9% to Rs 2.79 crore in Q1 December 2009 over Q1 December 2008. The company announced the results after market hours on Thursday, 28 January 2010.

The company generates electricity through wind-assisted power plants at Thoseghar in Satara district of Maharashtra, as well as through non-conventional sources.