Kalpataru Projects International announced that its board has approved the opening of issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 1,214.98 per equity share.
The company's board authorized and declared the opening of the issue on Thursday, 12 December 2024.The floor price of Rs 1,214.98 is at a discount of 5.45% to the previous day's closing price of Rs 1284.95 on the BSE.
The company may offer a discount of not more than 5% on the floor price so calculated for the issue.
The issue price will be determined by the company in consultation with the bookrunning lead manager appointed for the issue.
Kalpataru Projects International (KPIL) is part of the Kalpataru Group, a diversified conglomerate with interests in EPC and real estate. KPIL is involved in EPC segment mainly in power T&D segment, railway infrastructure and oil & gas infrastructure and has presence in 70 countries. KPIL has extended its reach in the European market through its subsidiary Linjemontagei Grastorp AB in Sweden and Latin America through its subsidiary Fasttel Engenharia Ltda in Brazil.
The companys consolidated net profit jumped 41.2% to Rs 125.50 crore on a 9.1% increase in net sales to Rs 4,929.93 crore in Q2 FY25 over Q2 FY24.
The scrip declined 0.58% to Rs 1,277.55 on the BSE.
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