After the company approved the board of directors for fundraising worth Rs 99 crore by issuing non-convertible debentures (NCDs) on a private placement basis (PPB), Kalpataru Power Transmission gained 2.53% to Rs 517.

The company said its board has approved the issuance of 990 rated, listed, callable, unsecured, taxable NCDs with a nominal value of Rs 10 lakh each, totaling Rs 990 crore PPB.

On December 9, 2022, the deemed date of allotment is set, and the same date in 2025 will be the date of maturity, and principal payment will be made on December 9 2025.

The EPC major company is engaged in oil & gas pipeline, power transmission & distribution, railways and civil infrastructure business. The project is executed in more than 30 countries and has a global footprint in 67 countries.

On a consolidated basis, the net profit hit a high of 18.1% to Rs 98 crore on a 7% rise in net sales to Rs 3,798 crore in September 2022 over September 2021.