Kalpataru Projects to raise upto Rs 300 cr via NCDs

Kalpataru Projects International has received approval for the issuance of secured/unsecured redeemable Non-Convertible Debentures (NCDs) up to Rs 300 crore by the Company in one or more tranches.  

The board has also approved additional funding support upto USD 10 million, in one or more tranches from time to time, by way of granting a loan and/or making an equity investment in Kalpataru Power DO Brasil Participacoes, a wholly-owned subsidiary for further investment in Fasttel Engenharia S.A., a step-down wholly owned subsidiary of the Company and delegated authority to the Executive Committee. The Board of Directors of the company at its meeting held on August 11, 2023, has approved the same. 

Kalpataru Projects International (formerly known as Kalpataru Power Transmission) is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution. 

On Friday, the shares of Kalpataru Projects International closed at Rs 636.20, down by 1.04% from its previous closing of Rs 642.90 on the BSE. 

Today, the stock opened at Rs 646.00 and has touched a high and low of Rs 654.50 and Rs 630.45 respectively.  

The BSE group ‘A’ stock of face value of Rs 2 has touched a 52-week high and low of Rs 654.50 and Rs 353.35, respectively. Last one week high and low of the scrip stood at Rs 654.50 and Rs 599.90 respectively. The current market cap of the company is Rs 10,334.82 crore. 

The promoters holding in the company stood at 41.08%, while Institutions and Non-Institutions held 50.58% and 8.34% respectively. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.