NEW DELHI, Dec. 24 -- Any private takers for a loss-making company owned by public sector power giants that is owed over Rs.4,000 crore and has borrowed heavily to fund its investments? The answer will be known when the company's promoters decide to list its shares.

The company is Energy Efficiency Services Ltd (EESL), a joint venture owned by state-run NTPC Ltd, Power Finance Corp., Rural Electrification Corp. and Power Grid Corp. of India, which are considering listing its shares on the stock exchanges, said two people aware of the developments.

Listing EESL is part of a plan by the power sector Maharatna companies to exit the PSU that has led India's energy efficiency programme to reduce carbon emissions and meet the country's climat...