Kalpataru Projects Sets Fundraising Limit Via NCDS

Kalpataru Projects International Ltd. set on Tuesday the fundraising limit via non-convertible debentures up to Rs 1,600 crore.

At a meeting, the board of directors approved the proposal for setting up of a fundraising limit by way of issuance of secured, unsecured and redeemable NCDs up to Rs 1,600 crore, inclusive of the current NCDs amounting to Rs 1,298 crore, according to an exchange filing.

The civil construction company has authorized the executive committee of the board of directors for the same, it said.

Last month, KPIL bagged multiple orders worth Rs 2,333 crore that involved transmission and distribution in India and overseas markets.

KPIL's stock rose as much as 3.09% during the day to Rs 1,311 apiece on the NSE. It was trading 1.78% higher at Rs 1,295.2 per share, compared to a 0.28% advance in the benchmark Nifty 50 as of 11:36 a.m.