 "Kalpataru Projects to sell Vindhyachal Expressway for Rs 775 cr; shares up")
Kalpataru Projects International share: Kalpataru Projects International Ltd share price gained up to 2.97 per cent to hit an intraday high of Rs 1,362.35 per share on Wednesday, October 09, 2024.
The Kalpataru Projects International share rose after the company announced that it has entered into a definitive agreement for sale of its entire 100 per cent stake in Vindhyachal Expressway Private Limited (a wholly owned subsidiary) to Actis Atlantic Holdings Limited for an estimated enterprise value (EV) of Rs 775 crore.
In an exchange filing, Kalpataru Project said, “We are pleased to inform that the Company has entered into definitive agreement(s) for sale of its entire 100 per cent stake in Vindhyachal Expressway Private Limited (a wholly owned subsidiary) to Actis Atlantic Holdings Limited, subject to requisite approvals and compliances of conditions precedent.”
According to the company, the completion of sale would depend upon receipt of relevant approvals and completion of conditions precedent and is expected to be completed within 15 months from the date of entering into definitive agreement.
Established in 1981, Kalpataru Projects International Limited (KPIL) is among India's largest engineering and construction firms, publicly listed and renowned for its expertise in a diverse range of sectors. These include power transmission and distribution, buildings and factories, water supply and irrigation, railways, oil and gas pipelines, urban infrastructure such as flyovers and metro rail systems, highways, and airports.
With a robust presence in over 30 countries and spanning across 70 nations globally, KPIL is actively involved in executing projects on an international scale.
The market capitalisation of Kalpataru Projects International is Rs 21,533.05 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE500 category.
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The 52-week high of the stock is Rs 1,449.15 apiece while its 52-week low is Rs 601.25 per share.
At 11:30 AM, the Kalpataru Projects International share was trading 0.20 per cent higher at Rs 1,325.55 per share. By comparison, BSE Sensex was trading 0.80 per cent higher at 82,289.65 levels.