Kalpataru Projects International Limited successfully Raises ~₹ 1,000 Crores Equity via QIP

Kalpataru Projects International Limited (KPIL), a diversified engineering, procurement and construction ("EPC") company with over four decades of experience, has successfully completed its ~ ₹ 1,000 Crores Qualified Institutions Placement ("QIP"). This marks the first equity raise by KPIL in over a last decade.

The QIP witnessed an overwhelming response from a diverse group of investors including domestic mutual funds, foreign investment funds and insurance companies. This significant milestone underlines KPIL's strong credentials in the global EPC space and highlights investors' confidence in the robust outlook for the power transmission and civil infrastructure sector.

Manish Mohnot, MD & CEO, KPIL, said, "We are thankful to our investors in reposing their trust in us. The global push for renewables, rising power demand, growing urbanisation and improving mobility infrastructure, all indicate robust outlook for the EPC sector and increasingly positive for KPIL. The overwhelming response to our QIP reflects the unwavering confidence of investors in KPIL's diversified business profile, disciplined capital management and proven execution capability for large size EPC projects. The funds raised through QIP will further strengthen our balance sheet, enhance our financial flexibility and accelerate our growth plans."

Shares of Kalpataru Power Transmission Limited was last trading in BSE at Rs. 1314.35 as compared to the previous close of Rs. 1338.30. The total number of shares traded during the day was 3999 in over 534 trades.

The stock hit an intraday high of Rs. 1329.95 and intraday low of 1303.05. The net turnover during the day was Rs. 5261372.00.

Source : Equity Bulls

Keywords

KalpataruProjectsInternational INE220B01022 FundRaising QIP