Kalpataru Projects to Raise Rs 300 Crore via NCDs

Kalpataru Projects International has announced its plan to raise Rs 300 crore by issuing 30,000 Non-convertible Debentures (NCDs) of Rs 1,00,000 each. This issuance, approved by the board, will have an interest rate of 8.35% annually and will be listed on the BSE’s Wholesale Debt Market Segment.

Kalpataru Projects International has greenlit a proposal to raise Rs 300 crore through the issuance of Non-convertible Debentures (NCDs) via private placement, as announced on Monday.

The initiative involves issuing a total of 30,000 NCDs, each with a face value of Rs 1,00,000, according to a BSE filing.

Approved by the Executive Committee of the Board of Directors, these unsecured, rated, listed, redeemable NCDs will be floated on BSE’s Wholesale Debt Market Segment. The allotment date is set for June 13, 2024, with final redemption by June 11, 2027. An annual interest rate of 8.35% will be applied.