Kalpataru Power Transmission board approves Rs 99-crore fundraising plan

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.