Kalpataru Projects Raises ₹1,000 Crore via QIP

Kalpataru Projects International Ltd has successfully raised approximately ₹1,000 crore through a Qualified Institutional Placement by issuing 83.26 lakh equity shares at ₹1,201 each. This move has increased the company’s paid-up equity share capital significantly. The decision was approved at a recent QIP Committee meeting.

Kalpataru Projects International Ltd (KPIL) has successfully secured around ₹1,000 crore via a Qualified Institutional Placement (QIP) initiative. The company allocated 83.26 lakh equity shares, priced at ₹1,201 each, to select institutional buyers.

According to a regulatory filing, this strategic move has augmented KPIL's paid-up equity share capital from ₹32,48,92,304 to ₹34,15,45,092. This substantial capital raise was endorsed by the QIP Committee during its meeting on Tuesday.

The QIP initiative, encompassing the issuance of shares valued at ₹9,99,99,99,194, marks a decisive step in strengthening KPIL's financial standing, facilitating growth and expansion plans.

(With inputs from agencies.)