KPIL Raises Fundraising Limit to Rs 1,600 Crore

Kalpataru Projects International Ltd (KPIL) announced its board's approval to increase the fundraising limit to Rs 1,600 crore via non-convertible debentures (NCDs). The company currently has Rs 1,298 crore in outstanding NCDs, and the new approval includes this existing amount. KPIL operates in sectors such as power and urban mobility.

Kalpataru Projects International Ltd (KPIL) announced on Tuesday that its board has approved a plan to raise the fundraising limit to Rs 1,600 crore through non-convertible debentures (NCDs).

The company currently holds outstanding NCDs worth Rs 1,298 crore.

According to an exchange filing, 'The board of directors has inter-alia approved the proposal for setting up of fund raising limit by way of issuance of secured/unsecured redeemable NCDs by the company up to Rs 1,600 crore (principal amount) outstanding at any point of time (inclusive of current NCDs amounting to Rs 1,298 crore) and has authorized the Executive Committee of the Board of Directors for the same.'

KPIL is a diversified engineering and construction company engaged in sectors like power, oil and gas, and urban mobility.