Kalpataru Power Transmission rose 1.54% to Rs 244.30 at 10:00 IST on BSE after the company's subsidiary, Shree Shubham Logistics has filed a draft red herring prospectus with SEBI in connection with its proposed initial public offering.
The company made the announcement after market hours on Friday, 20 February 2015.
Meanwhile, the S&P BSE Sensex was up 95.58 points or 0.33% at 29,326.99.
On BSE, so far 35,130 shares were traded in the counter as against average daily volume of 1.19 lakh shares in the past two weeks.
The stock hit a high of Rs 249.10 and a low of Rs 243.05 so far during the day. The stock had hit a 52-week high of Rs 254.60 on 20 February 2015. The stock had hit a 52-week low of Rs 80.60 on 3 March 2014.
The stock had outperformed the market over the past one month till 20 February 2015, rising 2.93% compared with 1.55% rise in the Sensex. The scrip had also outperformed the market in past one quarter, jumping 32.82% as against Sensex's 4.15% rise.
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The mid-cap firm has an equity capital of Rs 30.69 crore. Face value per share is Rs 2.
Kalpataru Power Transmission said that Shree Shubham Logistics (SSL), a subsidiary of Kalpataru Power Transmission, has filed a draft red herring prospectus dated 19 February 2015 (DRHP) with Securities and Exchange Board of India (Sebi) on 20 February 2015, in connection with its proposed initial public offering of shares of Rs10 each comprising a fresh issue of shares, aggregating upto Rs 210 crore and an offer for sale of upto 70.07 lakh shares by Tano India Private Equity Fund II. The offer includes a reservation of 1 lakh shares for eligible employees, as defined in the DRHP. The offer is subject to receipt of requisite regulatory approvals, market conditions and other considerations.
Kalpataru Power Transmission's net profit rose 21.6% to Rs 40.99 crore on 9.1% rise in total income to Rs 1158.45 crore in Q3 December 2014 over Q3 December 2013.
Kalpataru Power Transmission (KPTL) is a turnkey player in power (transmission-India and overseas/generation/distribution/ construction), infrastructure (oil & gas Sector/railways/building & factories/roads & bridges) and asset creation (transmission system/ roads/logistics & warehouse), having footprints across 38 countries. KPTL is the Kalpataru group's listed entity and continues to look for development projects in various infrastructure sectors.
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