Kalpataru Power Transmission board approves Rs 99-crore fundraising plan

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Kalpataru Power Transmission Limited (KPTL) on Thursday said its board has approved a proposal to raise Rs 99 crore through the issuance of non-convertible debentures (NCDs).

A total of 990 NCDs of face value of Rs 10 lakh each will be issued under the fundraising plan, KPTL said in a regulatory filing.

"The Executive Committee (EC) of the Board of Directors of the Company has approved the issuance of listed, rated, unsecured, redeemable, taxable, non-convertible debentures of Rs 99 crores on a private placement basis," it said.

The EC approved the decision at its meeting held on Thursday.

Part of Kalpataru Group, KPTL, is amongst the leading engineering, procurement, and construction (EPC) companies.